Shares of Hatsun Agro Product Ltd. jumped over 13% on Tuesday to the highest in over a month. The stock surge came after the dairy products company's consolidated net profit doubled in the fourth quarter of financial year 2024. The Arun Icecreams producer posted a profit of Rs 52.2 crore in the January–March period in comparison to Rs 25 crore in the corresponding period last fiscal, according to an exchange filing.
Hatsun Q4 FY24 Results Highlights (Consolidated, YoY)
Revenue up 14% at Rs 2,047 crore vs Rs 1,789 crore.
Ebitda up 47% at Rs 230 crore vs Rs 156 crore.
Margin expands 247 basis points to 11.21% vs 8.74%.
Net profit up 109% at Rs 52.2 crore vs Rs 25 crore.
On the NSE, Hatsun's stock surged as much as 13.68% during the day to Rs 1,164.40 apiece, the highest since March 2. It was trading 12.58% higher at Rs 1,153.45 per share, compared to a 0.19% advance in the benchmark Nifty 50 at 09:51 a.m.
The share price has gained 0.25% on a year-to-date basis and 34.48% in the last 12 months. The total traded volume so far in the day stood at 158 times its 30-day average. The relative strength index was at 80.83, implying that the stock maybe overbought.
One out of the two analysts tracking the company has a 'buy' rating on the stock and another suggests 'sell', according to Bloomberg data. The average of 12-month analyst price targets implies a potential downside of 18.2%.
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