Premier Explosives surges 16 per cent post results

The stock of Premier Explosives was on a northward spree on Wednesday following the company's result announcement for the December quarter. The company's profit jumped 4-folds in Q3FY19.

The company's revenue from operations for Q3FY19 came in at Rs. 69.36 crore as against Rs. 67.49 crore in the corresponding quarter last year, registering 2.77 per cent YoY increase. The PAT for the quarter came in at Rs. 5.69 crore as against Rs. 1.6 crore in the corresponding quarter last year, YoY increase of more than 255 per cent.

During the quarter, the company's Earnings per share (EPS) improved to Rs. 5.35 as against Rs. 1.54 per share in Q3FY18.

Also, the company's promoters increased their shareholding by 0.15 per cent in the December quarter, thereby taking their holding to 40.64 per cent.

On Wednesday, at closing the stock of Premier Explosives was at Rs. 265.15 per share, up by 33.60 points or 14.51 per cent, after hitting a intraday high of Rs. 276.00 per share on BSE. While the benchmark index BSE Sensex dipped to 36,108.47, down by 336.17 points or 0.92 per cent.