The share price of a leading sugar manufacturing company in India surged to a 20% upper circuit, reaching Rs. 54.52 during Thursday’s trading session.
This increase followed the announcement of a 357 per cent quarter-on-quarter rise in net profit for Q1 FY24-25.
These price fluctuations occurred after the company disclosed its Q1 FY24-25 financial results through stock exchange filings post-market hours on Wednesday.
Founded in 1995, KCP Sugar and Industries Corporation Limited primarily engages in the manufacturing of sugar, industrial alcohol, and acetic acid.
The company’s related businesses include the production and marketing of rectified spirit, extra neutral alcohol, ethanol, incidental cogeneration of power, organic manure, mycorrhiza vam, calcium lactate, and CO2.
