July 29, 2015 Shares of KPR Mills Ltd., a diversified textiles player, surged to a fresh high after the company reported first quarter earnings that beat street's expectations.
KPR Mills, which also has interests in Sugar production, said its first quarter Net Profit rose 29 percent to 50.5 crore rupees compared with 39 crore rupees in the same quarter a year ago. Sales during April-June gained 5 percent to 623 crore rupees from 593 crore rupees in the year ago period.
KPR Mills gained 2.9 percent, or 18.30 rupees, to 660 rupees on the National Stock Exchange, where 28,400 shares were traded in the first 90 minutes of trade compared with the 5-day average of 46,700 lakhs.
KPR Mills' market capitalisation has leapt 172 percent in the past one year to 2,487 crore rupees as investors latched on to strong growth in the textiles sector owing to cheaper prices of inputs such as cotton.