DCM Shriram jumps 6% after turning profitable in Q3

DCM Shriram Consolidated, engaged in chemicals and agribusiness,jumped on Monday after itturned profitable in third quarter of fiscal 2013.

The company posted consolidated profit to Rs 607.5 million for the quarter ended Dec. 31, 2012 as compared to net loss of Rs 252 million for the same period last year.

Consolidated net salesfell by 4.48% to Rs 13.43 billion for the quarter ended Dec. 31, 2012 from Rs 14.06 billion in the year ago period.

During the quarter, the operating profit margin increased 424 bps to 6.83% from 2.59% for the same period last year. Shares ofthe companyare trading at Rs 68.80, up Rs 3.9, or 6.01% at the Bombay Stock Exchange (BSE) on Monday at 12:48 p.m.The scrip has touched an intra-day high of Rs 73.40 and low of Rs 67.15. The total volume of shares traded at the BSE is 51,572.In the earlier session, the shares declined 2.48%, or Rs 1.65, at Rs 64.90. Currently, the stock is trading down 20.37% from its 52-week high of Rs 86.40 and above 74.62% over the 52-week low of Rs 39.40.

Share Price Movement Period Pricein Rs Gain/(Loss) in Rs in % 1 Week 61.75 3.15 5.10 1 Month 67.85 (2.95) (4.35) 3 Months 71.50 (6.60) (9.23) 6 Months 55.95 8.95 16.00 1 Year 41.90 23.00 54.89 Note: Based on previous day closing price.