Balrampur Chini stock slips 2% as Q4 net profit takes a beating

Balrampur Chini shares have fallen over 6 percent since the start of the year

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Balrampur Chini Mills' share price dropped 2 percent to Rs 377 in morning trade on May 18 after the company's fiscal fourth quarter net profit declined.

The leading sugar producer announced a net profit of Rs 203.4 crore for the fourth quarter ending March 31, 2024, marking a 20 percent year-on-year (YoY) decline. The company's revenue from operations also witnessed a drop, decreasing 3.8 percent to Rs 1,434.3 crore compared to Rs 1,491.5 crore in the same period of the previous fiscal year.

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EBITDA or earnings before interest, tax, depreciation and amortisation declined 14.6 percent to Rs 344.8 crore in the fourth quarter of this fiscal year, compared to Rs 403.8 crore in the same period last year. The EBITDA margin was 20 percent in the reporting quarter, down from 27.1 percent in the corresponding period of the previous fiscal year.

For the full year, net profit surged 88.08 percent, reaching Rs 534.47 crore compared to Rs 284.17 crore in FY23. Sales increased by 19.89 percent, rising to Rs 5,593.74 crore in FY24, up from Rs 4,665.86 crore in the prior year.

At about 9:20 am, shares were trading at Rs 379, down over a percent from the last close on the NSE. Since the start of the year, shares have fallen over 6 percent.

On May 18, regular trading for the primary session will run from 9:15 am to 10:00 am, followed by a break until 11:15 am. For the second session at the disaster recovery site, the pre-open session will run from 11:15 am to 11:23 am, with normal trading scheduled from 11:30 am to 12:30 pm.

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