For FY14, La Opala reported a higher net profit at Rs29.95 crore on robust sales and lower raw material costs. Its shares hits a 52-week high
La Opala RG Ltd (La Opala), the Kolkata-based opal glass tableware manufacturer, hit a new 52-week high on Wednesday following a jump in the company's full year net profit.
According to the company, its FY14 net profit jumped on robust sales growth and lower raw material costs. On Wednesday, its shares opened at Rs886 and made its 52-week high at Rs948.95 on the BSE.
For the 12 month to end-March, the glassware manufacturer, said its net profit increased 31% to Rs29.95 crore from Rs22.88 crore, while its total revenues, including sales, grew 16% to Rs177.86 crore from Rs153.92 crore, a year ago period.
La Opala said its full year expenses grew 14% to Rs134.90 crore from Rs118.29 crore a year ago period. However, its cost of raw materials declined 2.44% to Rs37.06 crore and other expenses fell 2.53% to Rs20.81 crore compared with the same period a year ago.
During the March quarter, the company said its net profit grew 35% to Rs8.53 crore from Rs6.33 crore, as its total revenues, including sales, grew 22% to Rs48.86 crore from Rs39.93 crore a year ago period
As on 31 March 2014, FII shareholding in La Opala increased to 5.50% from 0%, DII shareholding increased to 2.16% from 1.88%, promoter shareholding increased marginally to 68.15%, while public shareholding fell to 6.90% from 9.29% as on 31st March 2013.
La Opala declared a final dividend of Rs5 per share.
At 3.14pm Wednesday, La Opala RG was trading 7.7% up at Rs951 on the BSE, while the S&P BSE Sensex was flat at 23,854.
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