Indian Acrylics locked at 10% upper circuit after stellar Q1 performance

The acrylic fiber manufacturer said its net profit in the quarter ended June 2019 jumped to Rs 10.5 crore compared to Rs 3.5 crore in the same period last fiscal

Shares of Indian Acrylics were locked at 10 percent upper circuit at Rs 13.02 on July 10 after reporting stellar earnings performance for the quarter ended June 2019.


The acrylic fiber manufacturer said its net profit in the quarter ended June 2019 jumped to Rs 10.5 crore compared to Rs 3.5 crore in the same period last fiscal.

Revenue from operations also shot up 38.5 percent to Rs 221.1 crore in Q1, from Rs 159.6 crore in the corresponding quarter last year.

"Fibre business grew by 17.5 percent year-on-year to Rs 183.56 crore and yarn segment showed a 62 percent growth at Rs 95.9 crore in June quarter," company said.

There were pending buy orders of 12,035 shares, with no sellers available on the BSE at 1426 hours IST

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