RattanIndia Enterprises clocked a net loss of Rs 170 crore during the December quarter on a consolidated basis, versus Rs 187 crore net profit a year ago. The total income was Rs 1921 crore versus Rs 1,680 crore a year ago, higher by nearly 15% on year.
Shares of RattanIndia Enterprises ended near the low of the session, down over 3% on February 4. The volumes in the shares were higher than the one-month average.
RattanIndia also announced that it has acquired 100% in subsidiary Cocoblu Quick Commerce, making it a wholly-owned subsidiary. The acquisition will help drive the company quick commerce business through its online platforms.
"Online retail is witnessing explosive growth in the country. REL has acquired 100% stake of “Cocoblu Quick Commerce Limited” which intends to start Quick commerce business through e-commerce platforms," said RattanIndia Enterprises.
The Q3FY25 revenue for the e-commerce platform Cocoblu rose by 15% on year to reach Rs 1866 crore. Its Revolt electric motorcycle sold 4844 units in December quarter, which is higher by 143% on year. The fintech platform Wefin disbursed loans of over Rs 916 crore during December quarter.
The company's market capitalization is around Rs Rs 7,400 crore with the share price down 18% so far this year, and lower by 40% over last one year. The stock is near its 52-week low of around Rs 50 per share. The stock has been seeing a Bearish Momentum on its short, medium and long-term moving averages.
The promoters of the company have pledged 2.86% of their shareholding in December quarter, with total pledge now at 11.45% of promoter holdings.
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