Shares of Hatsun Agro Product rose 16% to hit a fresh 52 week high on Tuesday after the firm reported a 62.9% rise in net profit for the June 2024 quarter. Profit climbed to Rs 130.5 crore in the first quarter against Rs 80.1 crore profit in the June 2023 quarter. Revenue from operations climbed 10.4% to Rs 2,375 crore in Q1 against Rs 2,150.6 crore in the corresponding period of the preceding fiscal.
Hatsun Agro stock rose 16.26% to a 52-week high of Rs 1,380 against the previous close of Rs 1186.95 on BSE. Market cap of the firm climbed to Rs 28,357 crore.
Total 0.30 lakh shares of the firm changed hands amounting to a turnover of Rs 3.86 crore.
The stock has risen 32% in a year and gained 43% in two years. It has climbed 11% this year.
Hatsun Agro shares have a one-year beta of 0.2, indicating very low volatility during the period.
In terms of technicals, the relative strength index (RSI) of Hatsun Agro stands at 69.2, signaling it's trading neither in the overbought nor in the overtrading zone.
Hatsun Agro stock stands higher than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages.
Operating profit rose 39% to Rs 330.3 crore in Q1 over Rs 237.7 crore in the corresponding period in the previous fiscal. EBITDA margin stood at 13.9% in the reporting quarter versus 11.1% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.
The board of the dairy firm declared an interim dividend of Rs 6 per equity share on the fully paid-up equity shares of the face value of Rs 1 per share. This is the first interim dividend declared by the board for the financial year 2024-25.
The board also fixed July 24, 2024 as the record date for the purpose of payment of interim dividend. The interim dividend will be paid on or before August 14, 2024.
Hatsun Agro Product is principally engaged in the business of processing and marketing of milk, milk products and ice cream.