KRBL dropped 5.15% to Rs 294.65 after the company reported 7.63% fall in consolidated net profit to Rs 125.74 crore on 36.62% fall in total income to Rs 773.26 crore in Q1 June 2020 over Q1 June 2019.
The result was announced after market hours yesterday, 11 August 2020.
Consolidated profit before tax came at Rs 166.33 crore in April-June 2020, lower by 16.6% from Rs 199.42 crore posted in the corresponding period last year. Total tax expenses fell nearly 36% to Rs 40.59 crore in Q1 June 2020 over Q1 June 2019.
Meanwhile, the company's board of directors discussed the potential to hive off of its energy business into a newly formed legal entity ('potential restructuring'). The intent of the potential restructuring is to unlock the value of energy business separately.
KRBL is engaged in seed development, contact farming, procurement of paddy, storage, processing, packaging, branding and marketing of basmati rice.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
