United Phosphorus surges on strong net profit growth in FY10

United Phosphorus is trading 11% higher at Rs 165, after consolidated net profit rose 10% to Rs 530 crore in Q4 FY10, against Rs 483 crore a year ago. Net sales increased by 10% to Rs 5,290 crore (Rs 4,802 crore) during the fiscal. The company had posted marginal 0.4% decline in net profit, despite of 44% jumped in net profit during FY09. On a standalone basis, net profit rose 23% to Rs 181 crore (Rs 148 crore) and net sales by 5% to Rs 2,453 crore (Rs 2,327 crore) during 2009-10. The board has recommended 100% dividend (Rs 2 per share of face value Rs 2 each) for FY10, against 75% (Rs 1.50 per share) total dividend paid for FY09. The stock opened at Rs 149 and touched high of Rs 165. It has seen almost fivefold rise in trading volume with as many as 1.67 million equity shares changing hands in the counter so far on the BSE, as compared to an average 373,000 shares that were traded in last two weeks.