Bikaji Foods Shares Gain After Q4 Profit Beat
The company's fourth-quarter net profit rose 57.12% year-on-year to Rs 38.29 crore, beating Bloomberg's estimate of Rs 33 crore.
Shares of Bikaji Foods International Ltd. rose the most in a week on Wednesday after its fourth-quarter profit beat analysts' estimates.
The company's net profit rose 57.12% year-on-year to Rs 38.29 crore in the quarter ended March, according to an exchange filing, beating Bloomberg's estimate of Rs 33 crore.
The board has recommended a final dividend of Rs 0.75 per share, representing 75% of the face value of Rs 1 equity share for the financial year ended March 31.
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Bikaji Foods International Q4 FY23 (Consolidated, YoY)
Revenue up 15.49% at Rs 462.26 crore. (Bloomberg estimate: Rs 511.60 crore)
Ebitda up 52.39% at Rs 61.84 crore. (Bloomberg estimate: Rs 55.80 crore)
Ebitda margin at 13.38% vs. 10.14% (Bloomberg estimate: 10.9%)
Net profit up 57.12% at Rs 38.29 crore. (Bloomberg estimate: Rs 33 crore.)
The board recommended a final dividend of Rs 0.75 per share.
Shares of Bikaji Foods International rose 1.61% to Rs 390.8 apiece as of 11:01 a.m., compared to a 0.21% advance in the benchmark NSE Nifty 50.
The stock gained as much as 4.78% intraday, the most in a week since May 17. Total traded volume so far in the day stood at 3.8 times its 30-day average. The relative strength index was 62.
Three analysts tracking the company maintain a 'buy' rating on the stock, according to Bloomberg data. The average 12-month consensus price target implies a potential upside of 10%.