Dalmia Bharat At Over One-Month Low After Q4 Profit Declines
However, Dalmia Bharat's net profit beat analysts' estimates during the fourth quarter.
Shares of Dalmia Bharat Ltd. fell on Thursday to the lowest in over a month after the company's fourth-quarter profit fell. The cement producer's consolidated net profit dropped 48% to Rs 320 crore in the January–March period, compared to Rs 609 crore in the same period last year, according to an exchange filing.
Dalmia Bharat Q4 FY24 Highlights (Consolidated, YoY)
Revenue up 10% at Rs 4,307 crore vs Rs 3,915 crore (Bloomberg estimate: Rs 4,174 crore).
Ebitda down 7.9% at Rs 654 crore vs Rs 710 crore (Estimate: Rs 803.3 crore).
Margin at 15.18% vs 18.13% (Estimate: 19.2%).
Net profit down 48% at Rs 320 crore vs Rs 609 crore (Bloomberg estimate: Rs 295 crore).
Shares of Dalmia Bharat fell as much 6% during the day on the NSE to the lowest since March 14. It was trading 5.33% lower at 10:42 a.m., compared to a 0.17% advance in the benchmark Nifty 50.
The stock has declined 3.27% in the last 12 months and 18.69% on a year-to-date basis. The total traded volume so far in the day stood at 6.5 times its 30-day average. The relative strength index was at 33.65.
Twenty-eight out of the 33 analysts tracking the company have a 'buy' rating on the stock, two recommend 'hold' and three suggest 'sell', according to Bloomberg data. The average of 12-month analyst price targets implies a potential upside of 33%.