Quarterly Results: Kaveri Seeds Company Ltd
Bhagyashree Vivarekar / 13 Dec 2016
Kaveri Seeds Company Ltd., is currently trading at Rs. 429.15, up by 6.65 points or 1.57% from its earlier closing of Rs. 422.5 on the BSE. Company's net profit stands at Rs 7.74 cr as against a net loss of Rs 48.18 cr during same period of previous year, anchored by a 482% yoy rise in other income.
Technical View:
Kaveri Seeds Company Ltd., is currently trading at Rs. 429.15, up by 6.65 points or 1.57% from its earlier closing of Rs. 422.5 on the BSE.
The scrip has touched a high and low of Rs. 432.85 and Rs. 419.65 respectively, after opening at 419.65. By far 445906(NSE+BSE) shares have been traded on the counter; and the stock is currently trading below its 50 DMA.
Standalone Results Q2FY17: (Rs. in crore)
Kaveri Seeds Company Ltd's Q2FY17 numbers have come in as a mixed bag as compared to Bloomberg estimates. Revenue stands 28.4% lower than the estimate of Rs 94.7 cr. EBITDA has come in 16.6% higher than the estimated figure of Rs 2.9 cr. While company has posted a net profit of Rs 7.74 cr vs estimated net loss of Rs 0.2 cr.
The quarter's revenue has soared marginally by 2.2% yoy to Rs 67.76 cr.
Kaveri's EBITDA has come in at Rs 3.38 cr compared to EBIDTA loss of Rs 44.6 cr in Q2FY16, attributed to favourable change in inventories as well as 20.7% yoy decrease in other expenses.
Company's net profit stands at Rs 7.74 cr as against a net loss of Rs 48.18 cr during same period of previous year, anchored by a 482% yoy rise in other income.
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