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Rallis India, Hatsun Agro Shares Rally 10% on Strong Q1 Earnings

Representative image (Reuters)

Representative image (Reuters)

Rallis India shares jumped as much as 9.7% to Rs 166 apiece in intraday trade on Friday, while Hatsun Agro surged over 10% to touch the level of Rs 775.

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Shares of agrochemical company Rallis India Ltd and dairy company Hatsun Agro Product Ltd rallied on Friday, i.e. 19 July, after the companies reported better-than-expected set of numbers for the first quarter (Q1) of FY20.

Rallis India shares jumped as much as 9.7% to Rs 166 apiece in intraday trade on Friday, while Hatsun Agro surged over 10% to touch the level of Rs 775.

Rallis India reported net profit at Rs 8.32 crore in the June quarter, up 7.22% from Rs 7.76 crore in the same quarter previous year. Net sales of the company stood at Rs 363.13 crore in the first quarter, up 3.05% from Rs. 352.39 crore in the year-ago quarter.

The company’s consolidated profit jumped 24% to Rs 67.76 crore in the June quarter compared with a year ago.

Operating profit margin for Rallis India rose sharply to 15.2% in the June quarter compared with 14.5% in the same quarter a year ago.

According to a report, 10 of the 18 brokerages covering the Rallis India stock have a “buy” or equivalent ratings, four have “sell” rating and four recommend “hold”.

Meanwhile, Hatsun Agro Q1 profit jumped 35.4% to Rs 51.2 crore compared with Rs 37.8 crore a year ago. Revenue also rose 15.2% in the June quarter to Rs 1,423.2 crore compared with Rs 1,235.6 crore.

Hatsun Agro had announced the results after market hours on 18 July.


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