Milkfood zooms 50% in three days post September quarter results

The stock hit a 52-week high of Rs 434, rallied 50% in past three trading days from Rs 289 on Thursday, December 14, 2017.

Milkfood hit 52-week high of Rs 434, up 18% on the BSE in early morning deal, extending its past two days rally, after the company reported 73% growth in net profit at Rs 2.85 crore in September quarter (Q2FY18).

The company engaged in dairy products business had profit of Rs 1.65 crore in the same quarter last year. It recorded a net loss of Rs 1.06 crore in previous quarter.

Operational revenue during the quarter under review more than doubled to Rs 100 crore from Rs 47 crore in the corresponding quarter of previous fiscal.

In past three trading sessions, the stock zoomed 50% from Rs 289 on Thursday, December 14, 2017.

The stock is trading under ‘X’ category. The BSE had merged the groups XC and XD into new group X with effect from December 1, 2017. Three sub segments -- XC, XD and XT -- were launched in November 2015 considering companies specific characteristics such as low to moderate market capitalisation, lower contribution to overall trading turnover.