Hatsun Agro Product rose 1.05% to Rs 849.80 after the company's standalone net profit jumped 160.66% to Rs 65.79 crore on 3.79% rise in revenue from operations to Rs 1,327 crore in Q2 September 2020 over Q2 September 2019.
Profit before tax (PBT) soared 131.14% to Rs 93.06 crore in Q2 September 2020 as against Rs 40.26 crore in Q2 September 2019. Total tax expense for the quarter spurted 81.55% at Rs 27.27 crore as against Rs 15.02 crore in Q2 September 2019. The Q2 result was declared during trading hours today, 19 October 2020.
Meanwhile, the board of Hatsun Agro Product recommended issuing one bonus shares for every three existing equity shares of Re 1 each fully paid up held by the shareholders on the record date i.e., 3 December 2020.
The board also approved the proposal for raising of funds through private placement of equity shares by way of qualified institutional placement.
Hatsun Agro Product is primarily engaged in the business of manufacture and marketing of ice cream and milk and dairy based products. The company sells its products under the brands Arun Icecreams, Arokya Milk, Hatsun Curd, Hatsun Paneer, Hatsun Ghee and Hatsun Dairy Whitener.
The scrip has zoomed 126.58% from its 52-week low of Rs 375.05 hit on 24 March 2020.
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