Rain Industries hit the 5% UC at Rs.218.55, the moment it opened for trading. Its 52-week high is at Rs.475.50.
The market is thrilled with the company’s performance for its second quarter ended 30th June 2018 (31st Dec year ending). On a 44% (YoY) jump in revenue at Rs.3803 crore, it posted a jaw dropping 94% rise in net profit at Rs.295 crore.
Operating profit was up 48% at Rs.692 crore while margins rose from 17.7% to 18.2%.
The company’s carbon sales rose 9% at 747,000 MT – this was mainly on account of 11.5% jump in sales volume of calcined petroleum coke and 9% rise in that of other carbon products.