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  1. Hatsun Agro soars 18% as Q1 net profit rises 63% YoY; interim dividend announced

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Hatsun Agro soars 18% as Q1 net profit rises 63% YoY; interim dividend announced

Upstox

2 min read | Updated on July 16, 2024, 12:30 IST

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SUMMARY

The company’s EBITDA (earnings before interest, tax, depreciation and amortisation) rose 39% year-on-year to ₹330 crore during the period. Hatsun Agro declared an interim dividend of ₹6 per equity share on the fully paid-up equity shares of face value of ₹1 each (600%) for FY25.

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Hatsun Agro rallies nearly 18% after strong Q1 results

Hatsun Agro rallies nearly 18% after strong Q1 results

Shares of Hatsun Agro Product Ltd rallied nearly 18% in trade on Tuesday, July 16, to hit a fresh 52-week high after the company announced earnings for the first quarter ended June 2024 (Q1 FY25).

In a stock exchange notification late on Monday, the leading Tamil Nadu-based private sector dairy company said that its net profit stood at ₹131 crore in Q1 FY25, up by 63% compared with ₹80 crore in the year-ago quarter. Revenue jumped 10% to ₹2,375 crore during the June quarter compared with a year ago.

The company’s EBITDA (earnings before interest, tax, depreciation and amortisation) rose 39% year-on-year to ₹330 crore during the period. EBITDA margins improved to 13.9% in Q1 FY25 from 11.1% in Q1 FY24.

Hatsun Agro also declared an interim dividend of ₹6 per equity share on the fully paid-up equity shares of face value of ₹1 each (600%). This is the first interim dividend declared by the board for the financial year 2024-25.

The company has fixed July 24, 2024, as the record date for the purpose of determining eligible shareholders for the payment of interim dividend. The dividend will be paid on or before August 14, 2024.

Hatsun Agro has also fixed the date of its 39th annual general meeting (AGM) as Wednesday, August 28, 2024, via videoconferencing or other audiovisual means.

After the announcement, the Hatsun Agro stock spiked as much as 18% in early trade on Tuesday to hit its 52-week-high level at ₹1,400 apiece on the NSE. However, it later trimmed gains to trade around 7% higher at ₹1,269 apiece at 12:15 p.m. The stock had also gained 4% in the previous session. On a year-to-date basis, Hatsun Agro shares are up 11.7%.

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