KPR Mill share price at 52-week high after Q2 profit rises to Rs 109 crore

KPR Mill

KPR Mill share price surged over 12 percent intraday, hitting a 52-week high of Rs 782.95 per share on BSE on October 28 after the company declared its September quarter results.

The company reported a quarterly net profit of Rs 112.54 crore, up 3.12 percent from Rs 109.14 crore in the year-ago period. EBITDA came in at Rs 199.02 crore, 9.48 percent higher from Rs. 181.78 crore in September 2019.

The company reported net sales at Rs 941.92 crore in September 2020, up 16.57 percent from Rs 808.04 crore in September 2019.

At 1019 hours, the stock was trading at Rs 755, up Rs 78.30, or 11.57 percent. The scrip also witnessed a spurt in volume by more than 7.04 times and was trading with volumes of 31,662 shares, compared to its five-day average of 7,172 shares, an increase of 341.44 percent.

To cater to growing demand and to tap new markets, it will expand its garment segment by setting up a new factory at an estimated cost of Rs 250 crore, the company said in an exchange filing.

The factory is coming up near Coimbatore in Tamil Nadu, within the proximity of existing facilities so as to avail the benefits of integrated activities, it said.

News Source: livemint

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