Emami Paper Mills stock jumps 20% as profit rises 512%
Business
Emami Paper Mills's stock just shot up 20% to a 10-month high, thanks to some eye-popping first-quarter results.
The company's net profit soared by 512% compared to last year, hitting ₹38.61 crore, while revenue climbed 22% to ₹560 crore.
Basically, investors loved what they saw.
Net profit up nearly 23% sequentially
Not only did profits and revenue spike from last year, but the numbers also improved from the previous quarter: net profit rose nearly 23%, and margins got a solid boost too.
Emami Paper Mills is India's top premium newsprint maker and also big in packaging boards.
Even with the stock rallying hard this year (up 116% since March!), promoter ownership stayed steady at 75%, showing confidence from those at the top.