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Rain Industries share price tumbles 12% on Q4 loss of Rs 97 crore

The company posted a consolidated net loss of Rs 97 crore in the December quarter against a profit of Rs 307 crore in the year-ago period

February 28, 2022 / 10:44 AM IST
The company posted a consolidated net loss of Rs 97 crore in Q4 December 2021 as compared to a net profit of Rs 307 crore registered in Q4 December 2020.

The company posted a consolidated net loss of Rs 97 crore in Q4 December 2021 as compared to a net profit of Rs 307 crore registered in Q4 December 2020.

 
 
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Rain Industries' share price was down more than 12 percent in the morning session on February 28 after the company posted a consolidated net loss of Rs 97 crore in the December quarter against a profit of Rs 307 crore in the year-ago period.

The company's net sales, however, jumped 52 percent to Rs 4,026 crore in the quarter from Rs 2,640 crore in the same period of the previous year, while adjusted EBITDA was up almost 13 percent to Rs 541 crore. EBITDA margin slipped to 13.4 percent from 18.2 percent in the year-ago quarter. The company follows January-December financial year.

Profit before tax dipped 49.8 percent to Rs 223.46 crore in the fourth quarter from the year-ago period, the company said.

The company reported finance costs of Rs 119 crore, a drop from Rs 124 crore during the fourth quarter of 2020. The decrease in finance costs was due to the depreciation of the euro against the Indian rupee by 2.6 percent coupled with lower utilisation of working capital borrowings compared to last-year quarter.