Mishra Dhatu Shares Hit Two-Month Low As Q1 Net Profit Tanks
The company's net profit was down 74% year-on-year at Rs 5 crore in the first quarter of fiscal 2025.
Shares of Mishra Dhatu Nigam Ltd. fell for a third consecutive session on Monday after the company reported a 74% year-on-year fall in its net profit for the quarter ended June 30, 2024.
Midhani Q1 FY25 Result Highlights (Consolidated, YoY)
Revenue down 13% at Rs 163 crore versus Rs 188 crore.
Ebitda down 45% at Rs 23 crore versus Rs 42 crore.
Ebitda margin at 14.1% versus 22.3%.
Net profit down 74% at Rs 5 crore versus Rs 19 crore.
Value of production stood at Rs 210.8 crore in the first quarter of fiscal 2025, against Rs 295.66 crore recorded in the corresponding quarter of previous year, according to an exchange filing.
The company's order book position stood at Rs 1,757.9 crore as of July 1.
The stock has lost nearly 6% from its closing price on Aug. 7.
Shares of the company fell as much as 9.06%, the lowest level since June 6. They pared loss to trade 4.7% lower at Rs 421.85 apiece, as of 10:24 a.m., compared to a 0.28% decline in the NSE Nifty 50.
The stock has risen 0.86% year-to-date and 2.73% in the last 12 months. Total traded volume so far in the day stood at 0.60 times its 30-day average. The relative strength index was at 31.49.
The two analysts tracking the company maintain a 'hold' rating on the stock, according to Bloomberg data. The average 12-month analysts' consensus price target implies an upside of 13.9%.
