Shares of Mrs. Bectors Food Specialities Ltd. hit a record high on Monday after its profit more than doubled in the first quarter.
The cookie and cracker manufacturing company's consolidated net profit rose 173.7% year-on-year to Rs 34.9 crore in the June quarter, according to an exchange filing
Mrs. Bectors Food Specialties (Consolidated, YoY)
Revenue up 24.4% at Rs 374.2 crore.
Ebidta up 85.2% at Rs 57.9 crore.
Ebidta margins at 15.49% versus 10.40%.
Net Profit up 173.7% at Rs 34.9 crore.
Shares of the company jumped 11.30% before paring gains to trade 5.28% higher at 12:49 p.m., compared to a 0.30% gain in the benchmark NSE Nifty 50.
The total traded volume so far in the day stood at 5.7 times its 30-day average. The relative strength index stood at 67.75.
All nine analysts tracking the company maintain a 'buy' rating on the stock, according to Bloomberg data. The average of 12-month analyst price targets implies a potential downside of 5.5%.
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