Sula Vineyards Shares Near Two-Month Low After Q4 Profit Falls
The wine producers' consolidated net profit fell 4.84% year-on-year to Rs 13.55 crore in quarter ended March 2024, according to an exchange filing.
Shares of Sula Vineyards Ltd. fell to their lowest since March 14 on Thursday after its profit declined in the fourth quarter.
The wine producers' consolidated net profit fell 4.84% year-on-year to Rs 13.55 crore in quarter ended March 2024, according to an exchange filing.
Sula Vineyards Q4 Results Highlights (Consolidated, YoY)
Revenue up 9.74% at Rs 122.52 crore.
Ebitda down 4.41% at Rs 29.46 crore.
Margin down 313 bps at 24.04%.
Net profit down 4.84% at Rs 13.55 crore.
Board recommends final dividend of Rs 4.5 per share.
Shares of Sula Vineyards fell 6.95% to Rs 504.30, the lowest level since March 14. It was trading 6.46% down at Rs 506.95 as of 12:02 p.m., as compared to 0.62% decline in the NSE Nifty 50.
The stock rose 1.36% on year-to-date basis and 19.32% in last 12 months. The total traded volume so far in the day stood at 1.93 times its 30-day average. The relative strength index was at 30.11.
Out of five analysts tracking the company, four maintain a 'buy' rating and one suggests 'sell', according to Bloomberg data. The average 12-month consensus price target implies an upside of 27.3%.
