Shares of Sutlej Textiles and Industries surged as much as 17 per cent at day’s high of Rs 614 after the Rajasthan-based textile maker reported a big jump in its fourth quarter net profit.

Sutlej Textiles and Industries’ net profit jumped 78 per cent to Rs 49 crore in the March quarter on a year-on-year basis.It revenue rose 17 per cent to Rs 558 crore as compared to Rs 478 crore reported in the same quarter a year ago.Operating profit of Sutlej Textiles and Industries rose 13 per cent to Rs 77 crore.

The board of director of Sutlej Textiles and Industries also recommended a dividend of Rs 13 per share for the year ending March 2016.
As on 11.14 a.m., shares of Sutlej Textiles and Industries were trading 14 per cent higher at Rs 603 outperforming the broad market indicator, Sensex which was up 0.52 per cenT.