Shree Renuka Sugars declared its results for Q2FY17 and reported a net profit of Rs 2.50 crore for the quarter ending September 30. This was as compared to a net loss of Rs 151.20 crore reported for the same quarter last financial year. On the complete turnaround of the quarter, Shree Renuka share price saw a 6 per cent spurt in Wednesday's trade.
The company said net sales went up 110.43 per cent to Rs 2,029.40 crore for the second quarter as against Rs 964.40 crore in corresponding quarter last financial year. The company reported a profit before tax (PBT) of Rs 2.90 crore for the quarter, as compared to a Rs 228.50 crore loss (before tax) in the year-ago quarter. Operating profit margin (OPM) for September quarter stood at 6.12 per cent.
Shree Renuka share price surged 5.94 per cent to trade at the intraday high of Rs. 14.25
The scrip opened at Rs. 14.20 and has touched the intraday low of Rs. 13.65. The BSE group 'A' stock of face value Rs. 1 has traded at a 52 week high of Rs. 19.18 on 15th June 2016 and a 52 week low of Rs. 9.93 on 12th February 2016. Last one week high and low of the scrip stood at Rs. 14.90 and Rs. 11.90 respectively. The current market cap of the company is Rs. 1272.47 crore.
At 11:23 AM, Shree Renuka share price was trading at Rs. 13.85 with the rise of 2.97 per cent as compared to the 0.56 per cent rise in the Benchmark Index Nifty. So far twenty six lakh shares have changed hands over the NSE trading counter today.
The promoters holding in the company stood at 55.45 per cent, while institutions and non-institutions held 5.05 per cent and 39.50 per cent respectively. For the levels of resistance and support of Shree Renuka, visit Shree Renuka share price forecastpage of Dynamic Levels website.
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