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Shares of Manorama Industries rose on Monday as its revenue jumped over 50% and the consolidated net profit surged 71% in the first quarter. The food and beverage manufacturer's strong performance is attributed to the continuous enhancement in demand and consumption within the chocolate, confectionery and cosmetic industry, according to an exchange filing on Saturday. Manorama Q1 FY24 Highlights (Consolidated, Year-On-Year) Revenue up 53% to Rs 111.6 crore vs Rs 73 crore. Ebidta up 48% at Rs 18.6 crore vs Rs 12.6 crore. Ebidta margin at 16.71% vs 17.28%. Net profit up 71% at Rs 11.6 crore vs Rs 6.8 crore. Shares of Manorama Industries were trading 5% higher at Rs 1,788.30 apiece compared to a 0.25% rise in the benchmark NSE Nifty 50 as of 10:43 a.m. 4.45% The stock has risen nearly 74.98% year-to-date. The total traded volume so far in the day stood at 6.4 times its 30-day average. The relative strength index is at 63.35. Shares of Fineotex Chemicals Ltd. advanced on Monday after the company reported a rise in its profit in Q1 FY24. The specialty textiles chemical manufacturer's net profit rose 29.84% year-on-year to Rs 25.6 crore in the quarter ended June, according to an exchange filing. Fineotex Chemicals Ltd. Q1 FY24 (Consolidated, Year-on-Year) Revenue down 2.60% at Rs 132.2 crore. Ebitda up 20.16% at Rs 31.5 crore. Margins at 23.83% versus 19.32%. Net profit up 29.84% at Rs 25.6 crore. Shares of Fineotex Chemical rose 4.61%, before paring gains to trade 1.97% higher at 10:42 a.m., compared to a 0.29% rise in the benchmark NSE Nifty 50. The total traded volume so far in the day stood at 1.6 times its 30-day average. The relative strength index stood at 56.08. Revenues up 25.3% at Rs 422.12 crore vs Rs 336.94 crore (Bloomberg Estimate Rs 451.28 crore) Net loss of 22.15 crore vs loss of Rs 23.29 crore (Bloomberg Estimate Net loss of Rs 33.33 crore) Ebitda up 45.8% at Rs 48.46 crore vs Rs 33.23 crore (Bloomberg Estimate Rs 50.95 crore) Margins at 11.48% vs 9.86% (Bloomberg Estimate 11.29%) Source: Exchange Filing Shares of Aditya Birla Fashion And Retail Ltd. tumbled over 8% on Monday as the company's FY 2024 first quarter losses widened to Rs 141.43 crore compared to analyst estimates. The company's net loss of Rs 141.43 crore in the quarter ended June, compares with the Rs 97.4 crore profit reported in the year ago period and the consensus estimate of a net loss of Rs 129.15 crore by analysts tracked by Bloomberg. Aditya Birla Fashion Q1 FY24 Highlights (Consolidated, YoY) Revenue from operations rose 11.17% to Rs 3196 crore from Rs 2874.76 crore in the year ago period. Ebitda down 29% to Rs 353 crore vs 500 crore in Q1FY23 Ebitda margin fell to 11.04% from 17.4% a year ago Shares of the company fell 6.72% to Rs 195.70 apiece compared to a 0.31% advance in the Nifty 50 as of 10:44 a.m. The stock reached an intraday low of 8.03%. The total traded quantity so far in the day stood at 8.5 times the 30-day average volume. The stock's relative strength index stands at 30.88. Out of the 25 analysts tracking the stock, 11 maintain a 'buy', nine recommend a 'hold', and five suggest a 'sell', according to Bloomberg data. The consensus price estimate indicates a 17% upside over the next 12 months.
Read more: bloombergquint
