Profits in Emami Paper Mills; after upper circuit rises

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NEW DELHI: Emami Paper Mill shares hit the upper circuit during the early trade on Wednesday after the company turned profitable at the quarter-end of March 2021.

 A net profit was reported by the paper products producers worth Rs 47.28 crore in the quarter-end March 2021.

Emami Paper Mill shares have delivered a return of 150 percent in just seven months, rallying from Rs 60 on November 4, 2020, to Rs 152.40 on Tuesday, 2021.

 A Kolkata-based company reported a gain of 9.82 percent in sales to Rs 411.38 crore in the quarter. The company had reported a sale of Rs 374.58 crore in the same quarter for the previous year.

 The scrip lifted by 20 percent, the upper circuit limit, to Rs 152.40 on Wednesday. The counter had settled at Rs 127 on Tuesday.

 For the full fiscal, net profit was reported to Rs 51.06 crore in the year-end of March 2021 as against the net loss of Rs 10.45 crore during the previous year.

However, sales during the year declined by 19.74 percent to Rs 1,216.27 crore.