Kaveri Seed top loser in Futures and Options market after company q1 net profit fell

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Kaveri Seed top loser in Futures and Options market after company q1 net profit fell
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Kaveri Seed was the top loser in the Futures and Options market after the company's quarterly profit and sales fell below market's expectations.

Kaveri Seed said its first quarter net profit fell 5 percent to 218.4 crore rupees compared with 230.4 crore rupees in the same quarter a year ago. Sales during April-June slumped 20 percent to 664 crore rupees versus 827 crore rupees in the same period a year ago.

However, Kaveri reported a 570 bps rise in its EBIDTA margin to 33.8 percent from 28.1 percent in the two comparative periods.

Kaveri fell 57 rupees, or 9.5 percent, to 540.30 rupees on the NSE where 50.8 lakh shares were traded compared with a 5-day average of 20 lakh shares.

Kaveri's market capitalisation has dropped 35 percent in the past one year to 3,804 crore rupees. The stock trades at 3.91 times book value of 140.8 rupees.
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(Image credits: Indiatimes)