Shares of Rain Industries Ltd hit 5% upper circuit on the BSE as Q2CY18 results beat the street estimates. The company’s net profit for the quarter grew by 94.6% yoy to Rs294.8cr against Rs151.5cr last year, beating the estimate (Rs288cr), due to improved operating performance.
Revenue grew by 40% yoy to Rs3,803.3cr against Rs2,716.6cr in Q2CY17, beating the estimate (Rs3,580cr).
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