Punjab Chemicals shares surge on June quarter numbers

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Punjab Chemicals and Crop Protection Ltd’s shares went up by 14 per cent after the company reported a 7.8 per cent increase in profit at Rs 21.86 crore for the quarter ended June 30, 2023, compared to Rs 20.26 crore in the corresponding quarter last year.

Revenues were up 3.39 per cent at Rs 2.81 crore, compared to Rs 2.72 crore last year. Sequentially, profits were higher by 583 per cent, compared to Rs 3.02 crore in the previous quarter.

The shares went up by 14 per cent to Rs 1,013 at 11.10 am on BSE. At 12 noon, the stock was trading at Rs 1,035, up 16.02 per cent.