Shares of Chemical-based multi-business entity SRF Ltd on Wednesday fell over 5% after the company reported its quarterly results. The stock was trading at Rs 2,753.60 apiece at the time of writing.
SRF on Tuesday reported a 59.6% rise on a year-on-year basis in the profit to Rs 433 crore for the third quarter ended December. The company's revenue in the third quarter grew by 6.3%, reaching Rs 3,713 crore as against Rs 3,491.31 crore in the year-ago period, SRF Ltd said in a regulatory filing.
The operating profit or the earnings before interest, tax, depreciation and amotisation saw a jump of 25.9%, totalling Rs 780 crore against Rs 620 crore in the previous year's third quarter. The company said that its profitability has increased, with margins expanding to 21% from 17.7% year-over-year.
However, the fall in the stock came as the company's management said some of its core product categories are facing pressure from Chinese competitors.
SRF Ltd said the board has approved a second interim dividend for 2025-26 of Rs 5 per fully paid up equity share of Rs 10 each, aggregating Rs 148.21 crore.
The board also approved the appointment of Samir Kashyap as President & Chief Financial Officer of the company, it added.
Photo: NDTV Profit
The scrip fell as much as 5.31% on Wednesday. The total traded volume so far in the day stood at 0.40 times its 30-day average. The relative strength index was at 46.04.
Out of 35 analysts tracking the company, 20 maintain a 'buy' rating, six recommend a 'hold,' and nine suggest 'sell,' according to Bloomberg data. The average 12-month consensus price target implies an upside of 13.7%.
Watch LIVE TV, Get Stock Market Updates, Top Business, IPO and Latest News on NDTV Profit.