Dodla Dairy Shares Jump To Record After Q3 Profit Rises Over 16%
The company posted consolidated net profit of Rs 41.33 crore in October-December period, compared to Rs 35.39 crore in the previous year.
Shares of Dodla Dairy Ltd. jumped over 14% to a record high on Monday after its profit surged 16% in the quarter ended December 2023.
The Hyderabad-based dairy company posted consolidated net profit of Rs 41.33 crore in October-December period, compared to Rs 35.39 crore in the previous year. The poll conducted by Bloomberg of analysts estimated net profit at Rs 51 crore.
However, Dodla Dairy has failed to meet analysts' estimate for the quarter three.
Dodla Dairy Q3 Results Key Highlights (Consolidated, YoY)
Revenue up 10.57% to Rs 746.84 crore. (Bloomberg estimate: Rs 743 crore)
Ebitda up 54.5% to Rs 82.83 crore. (Bloomberg estimate: Rs 82 crore)
Margin grew 315 bps to 11.09%. (Bloomberg estimate: 11%)
Net profit up 16.78% to Rs 41.33 crore. (Bloomberg estimate: Rs 51 crore)
Shares of the company rose as much as 14.54% to Rs 1,007.40 apiece, the highest level since its listing on Jun 28, 2021. It was trading 12.99% higher at Rs 993.80 apiece as of 10:24 a.m. This compares to a 0.62% advance in the NSE Nifty 50 Index.
It has risen 94.82% in 12 months. Total traded volume so far in the day stood at 9.6 times its 30-day average. The relative strength index was at 74.57, which implied the stock is overbought.
Two analysts tracking the company, maintained a 'buy' rating, according to Bloomberg data. The average 12-month consensus price target implies a downside of 17.3%.
