Garware Polyester has soared 5% to Rs 160 after the company reported three-fold jump in net profit to Rs 21.33 crore for the quarter ended June 2010 when compared with Rs 6.64 crore in the same period year ago.

Net sales grew 22% to Rs 174 crore on y-o-y basis during the recently concluded quarter. The company managed to post higher net profit growth due to fall in interest cost by 27% to Rs 9.47 crore (Rs 12.90 crore) during the quarter.

The stock opened at Rs 160 and hit fourteen-year high of Rs 165 on the BSE. The trading volumes has increased more than two-fold with 255,000 shares changing hands, as against an average 110,000 shares traded daily in the past two-weeks.