Ricoh India Surges 20% on Turning Profitable

Shares of Ricoh India zoomed 20 per cent to end at intraday high of Rs 344 after the company said it turned profitable in third quarter of FY15.

 

Ricoh India's third quarter net profit came in at Rs 10.55 crore against loss of Rs 21 lakhs in the same quarter previous year.

 

The company turned profitable on the back of high revenues posted in the October-December quarter. Revenues jumped 81 per cent to Rs 409 crore compared to Rs 226.79 crore in quarter ended December 2013.

 

Trading volumes on the counter surged as 6,60,000 shares changed hands on the BSE compared to average of 29,000 shares traded daily in past two weeks.