LT Foods Share Price Falls Over 7% As Q3 Profit Declines
Shares of LT Foods were trading 7.85% lower at Rs 368 apiece, compared to 1.1% decline at the benchmark NSE Nifty 50 at 2:28 p.m.
Shares of LT Foods Ltd. fell more than 7% on Monday after the company reported its third-quarter earnings and declared an interim dividend of Rs 0.50 per share. LT Foods reported a substantial growth in the revenue for the third quarter, while its net profit saw a decline.
The company's revenue surged by 17.2% to Rs 2,274.81 crore, compared to Rs 1,941.73 crore in the same period last year. While the net profit was down 5% to Rs 143.26 crore versus Rs 151.18 crore. The margin was down at 11.0% compared to 12.3%, in the same period last year.
The company also witnessed an increase in Ebitda, which rose by 5% to Rs 249.83 crore, compared to Rs 238.64 crore in Q3 of FY2024.
Shares of LT Foods were trading 7.85% lower at Rs 368 apiece, compared to 1.1% decline at the benchmark NSE Nifty 50 at 2:28 p.m. It has risen 87.92% in the last 12 months. Total traded volume so far in the day stood at 0.49 times its 30-day average. The relative strength index was at 53.81.
Two analysts tracking the company have a 'buy' rating on the stock, according to Bloomberg data. The average of 12-month analysts' price targets implies a potential upside of 38%.
