Granules India Surges on Triple Profit Jump

Granules India shares surged nearly 7% following the company's report of a nearly three-fold rise in net profit to Rs 135 crore for the June quarter. The stock hit a 52-week high on both BSE and NSE due to increased Profit After Tax and revenue from operations.

Granules India shares climbed nearly 7 percent on Wednesday, following the company's announcement of a nearly three-fold rise in net profit to Rs 135 crore for the June quarter.

The stock rallied 6.73 percent to trade at Rs 627.35 apiece on the BSE and bounced 6.39 percent to trade at Rs 626.60 on the NSE. In intra-day trade, shares hit a 52-week high of Rs 631.15 and 631.30 apiece on BSE and NSE, respectively.

BSE Sensex jumped 207.46 points to 81,662.86, while NSE Nifty rose by 72.80 points to 24,930.10 on Wednesday. Granules India's PAT increased to Rs 135 crore, nearly three times the Rs 48 crore reported in the same quarter last fiscal, and revenue from operations rose to Rs 1,180 crore from Rs 985 crore year-on-year, the company stated.