Hatsun Agro hits record high on strong Q3 results

The stock up 5% at Rs 420 in early morning trade

Hatsun Agro Products hit a record high of Rs 420, up 5% on the BSE in early morning trade, after the company reported a strong 64% year on year (YoY) growth in net profit at Rs 28.81 crore for the quarter ended December 31, 2016 (Q3FY17).

The company engaged in packaged foods business had profit of Rs 17.55 crore in year ago quarter. On sequential basis, profit was down by 10.4% from Rs 32.16 crore in September quarter.

Net sales grew 14% at Rs 945 crore on YoY basis.

EBITDA (earnings before interest, tax, depreciation and amortization) margin expanded 78 basis points to 9.28% in Q3FY17 from 8.5% in Q3FY16 and 9% in Q2FY17.

In past one month, the stock outperformed the market by gaining 19% as compared to 3% rise in the S&P BSE Sensex.

At 09:26 am; it was up 2% at Rs 409 against 0.1% rise in the benchmark index. A combined 27,811 shares changed hands on the counter on the BSE and NSE.