BCL Industries Q2 Results: Net Profit Reaches Rs 20 Cr On Higher Income

BCL Industries said on Friday that its September quarter 2023-24 total net profit was Rs 19.67 crore. The company disclosed in a regulatory filing that it had recorded a loss of Rs 81 lakh during the same period last year. The primary cause of the increase in net profit was the company's higher income during Q2FY24. From Rs 455.24 crore in the same quarter last year to Rs 482.72 crore in the quarter under review, total income expanded. From Rs 456.52 crore in Q2FY23 to Rs 452.40 crore in Q2FY24, expenses dropped.

On Friday, October 27, shares of BCL Industries traded ex-split. Earlier this year, the firm stated that its equity shares would be subdivided in a 1:10 ratio. This implied that each share of the company, which had a face value of Rs. 10, would be divided into 10 equity shares, each of which would have a revised new value of Re. 1.

One of the largest agro-processing manufacturing firms in India, BCL Industries Limited has a variety of vertical integrations and commercial ventures. BCL Industries Limited was founded in 1976 and has since grown rapidly, focusing on the industries of edible oils, rice milling, grain-based distillery, and real estate. A publicly traded company with operations in West Bengal and Punjab is BCL Industries Limited.

On Friday, the shares of BCL Industries closed 1.84% higher at Rs 52.70 apiece. The scrip has gained 66.40% in 1 year and on a YTD basis, the stock has surged 62.60% so far in 2023. The stock reached a 52-week-high of Rs 58.80 on (18/09/2023) and a 52-week-low of Rs 27.62 on (15/11/2022).