Chowgule Steamships surged 4.32% to Rs 49.50 at 15:03 IST on BSE, after net profit spurted 305.08% to Rs 40.63 crore in Q2 September 2009 over Q2 September 2008.
Meanwhile, the BSE Sensex was up 81.02 points, or 0.48%, to 16,887.68.
On BSE, 1.65 lakh shares were traded in the counter as against an average daily volume of 1.55 lakh shares in the past one quarter.
The stock hit a high of Rs 51.40 and a low of Rs 47.25 so far during the day. The stock had hit a 52-week high of Rs 63.40 on 1 September 2009 and a 52-week low of Rs 17.20 on 27 October 2008.
The small-cap stock underperformed the market over the past one month till 6 October 2009, falling 19.10% as compared to the Sensex's 8.09% rise. It had outperformed the market in the past one quarter, rising 37.14% as compared to the Sensex's return of 20.76%.
The company's equity capital is Rs 36.31 crore. Face value per share is Rs 10.
The current price of Rs 49.50 discounts the company's Q1 June 2009 annualized EPS of Rs 4.38, by a PE multiple of 11.30.
Chowgule Steamships' net sales slumped 71.53% to Rs 11 crore in Q2 September 2009 over Q2 September 2008. The company announced the results during hours today, 8 October 2009.
The net profit zoomed on the back of revenue of Rs 61.56 crore earned from sales of ships.
The company's main business is owning and chartering vessels. It also provides shipping services such as manning ships, fixing vessels, taking ships on bareboat charter and other activities connected with shipping.