BCL Industries’ shares recovered from early fall and rose about 3 per cent on Wednesday after the company reported its earnings for the period ended on December 31, 2022. The edible oil manufacturer reported a 4 per cent rise in the net profit at Rs 25.16 crore in the December 2022 quarter.
The company reported a net profit of Rs 24.22 crore in the December 2021 quarter, said the exchange filing.
However, the company’s income from operations declined about 21 per cent to Rs 448.71 crore in October-December 2022 period, compared to an operating income of Rs 564.81 crore in the same period last year. The company was able to report a rise in profit on the back of lower expenses.
On sequential comparison (QoQ), BCL Industries’ net profit rose manifold from Rs 7.03 crore in the September 2022 quarter, with an operational revenue of Rs 425.10 crore. BCL Industries reported a net profit of Rs 50.02 crore with an operational revenue of Rs 125.02 crore for the nine months that ended on December 31, 2022.
Shares of BCL Industries jumped over 3 per cent from the day’s low at 403.95 on Wednesday to Rs 417.30. However, the stock was trading at Rs 41.510 at 12.15 pm. The scrip settled at Rs 408.55 on Tuesday.
BCL Industries’ shares are down 6 per cent in the last one year, whereas the counter is up 15 per cent in the last six months. The counter has gained about 250 per cent since April 2021.
BCL Industries is the only company in India and the South Asian region to have a forward and backward integrated distillery ethanol plant. The company is also engaged in the business of edible oils including refined oil in the name of Homecook Vanaspati Do Khajoor and Mustard as Murli.
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