INOX Leisure shares soar over 16% as Q1 net rises

Shares of multiplex operator INOX Leisure on Monday zoomed over 16% as the company reported over fourfold increase in standalone net profit for the first quarter ended June 30.

The stock advanced by 15.82% to end at Rs 240.50 on BSE. Intra-day, it rose sharply by 18.46% to Rs 246, its 52-week high.

On the NSE, shares of the company surged 16.19% to Rs 240.65 at close.

The company''s market value rose by Rs 317.81 crore to Rs 2,319.81 crore.

INOX Leisure on Friday reported over fourfold increase in standalone net profit at Rs 22.56 crore for the first quarter ended June 30, on higher sales.

The company had posted a consolidated net profit of Rs 4.58 crore in the same period of previous fiscal, INOX Leisure had said in a filing to BSE.

Net sales of the company stood at Rs 302.69 crore in the April-June quarter, up 35.32 per cent compared with Rs 223.68 crore during the same period previous fiscal.