Shares of BCL Industries rose over 2 per cent during Wednesday’s trade after the company reported an increase in its third quarter net profit. The stock quoted at Rs 417 per share on the NSE, up about 2.25 per cent from its previous close of Rs 408.
The distilleries company on Tuesday released its October-December quarter earnings, reporting a 4 per cent rise in its net profit at Rs 25.16 crore, the company said in a regulatory filing. The gain was primarily driven by higher earnings. The net profit of the company stood at Rs 24.22 crore in the corresponding quarter of the previous financial year.
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Its total income stood at Rs 450.43 crore as against Rs 566.59 crore in the same period a year ago. Its total expenses declined by over 20 per cent to Rs 417.09 crore during the third quarter of FY23, as against Rs 534.88 crore a year ago. Its operating revenue for the first 9 months of FY23 is Rs 125.02 crore.
Shares of BCL Industries have given negative returns of 6 per cent in last one year. The stock has gained nearly 15 per cent in the last 6 months. There has been a tremendous jump of 250 per cent in the counter in the last two years.
BCL Industries is the only company in India and South Asian region to have Forward and Backward Integrated Distillery Ethanol Plant. It is also engaged in the business of edible oils including refined oils.
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