SRF stocks up nearly 4% as Q4 net soars

Shares of textiles firm SRF on Wednesday rose by nearly 4% after the company reported 82% increase in consolidated net profit for the quarter ended March 31, 2016.

The stock climbed 3.87% to Rs 1,467.25 on the Bombay Stock Exchange (BSE).

At the National Stock Exchange (NSE), shares of the company gained 3.98% to Rs 1,468.80.

SRF on Tuesday reported 82% increase in consolidated net profit at Rs 108.79 crore for the fourth quarter (Q4) ended March 31, on account of lower expenses and rise in income.

The company had reported a net profit of Rs 60 crore in the same quarter of the 2014-15 fiscal.

During the January-March quarter of the latest fiscal, the company's total income from operations rose to Rs 1,115 crore from Rs 1,081.36 crore in the year-ago period, according to SRF's BSE filing.

For the entire 2015-16 fiscal, the company posted 40% growth in consolidated net profit at Rs 423 crore as compared to Rs 302.81 crore in the previous year.

At 12:22 hours, the shares of SRF were trading up 2.70% or Rs 38.10 at Rs 1,450.55 per scrip on the BSE.