Radico Khaitan Shares Gain After Q1 Profit Jumps 13%
Net profit of the company was up 13% year-on-year at Rs 77 crore during the April-June period.
Shares of Radico Khaitan Ltd. rose after the company's first quarter net profit and revenue rose. Net profit was up 13% year-on-year at Rs 77 crore during the April-June period, compared to Rs 68 crore in the same period last year, according to an exchange filing.
The alcohol manufacturer recorded a 9% rise in revenue to Rs 1,137 crore for the three months ended June 30, 2024.
Operating income—or earnings before interest, taxes, depreciation, and amortisation—rose 25% year-on-year to Rs 149 crore. Ebitda margin expanded to 13.1% from 12.5% over the same period last year.
Shares of Radico Khaitan rose as much as 5.40% before paring gains to trade 4.27% higher at Rs 1,741.05 apiece as of 9:41 a.m. This compares to a 0.28% decline in the NSE Nifty 50.
The stock has risen 24.88% in the last 12 months and 5.34% year-to-date. Total traded volume so far in the day stood at 17 times its 30-day average. The relative strength index was 57.16.
Out of 11 analysts tracking the company, seven maintain a 'buy', two suggests a 'hold' and two recommend 'sell', according to Bloomberg data. The average 12-month analysts' consensus price target implies an upside of 6.7%.
