Nirman Agri shares rebound from early cuts; Q2 profit jump 16%
Nirman Agri Genetics was listed at the bourses in March this year. The company sold its shares at an issue price of Rs 99 to raise Rs 20.30 crore via primary offering
- Oct 19, 2023,
- Updated Oct 19, 2023 6:01 PM IST
Shares of Nirman Agri Genetics rebounded from the early cuts on Thursday as the stock recovered about 5 per cent. The company reported a decent growth in its results for the quarter ended on September 30, 2023. The stock rose about 5 per cent from an intraday low at Rs 221.10 to hit Rs 230.95 on NSE. However, it finally settled at Rs 229.
Nirman Agri Genetics reported a 16 per rise in the net profit on a year-on-year basis to Rs 2.11 crore for the quarter ended on March 31, 2023. The company had clocked a bottomline of Rs 1.81 crore in the same year previous year. Its revenue jumped more than 17 per cent to 12.95 crore in Q2FY24.
For the half year ended on September 30, 2023, the SME player Nirman Agri Genetics reported a net profit at Rs 3.93 crore with a revenue for 23.99 crore. However, figures for the same period previous year were not disclosed in the exchange filing. The company was listed on the SME platform of the National Stock Exchange (NSE).
Nirman Agri Genetics was listed at the bourses in March this year. The company sold its shares at an issue price of Rs 99 to raise Rs 20.30 crore via primary offering. Nirman Agri Genetics have rallied about 375 per cent from its 52-week low at Rs 48.80 and it is up 135 per cent from its issue price.
Incorporated in 2020 Nirman Agri Genetics, is engaged in the business of production, processing, and marketing of high-quality hybrid seeds, pesticides, and bio-organics, which are used for different crops like corn, sunflower, cotton, paddy, grain sorghum, among others.
Also Read: Nestle India Q3 results: Profit jumps 37% to Rs 908 crore; FMCG firm announces dividend, stock split
Shares of Nirman Agri Genetics rebounded from the early cuts on Thursday as the stock recovered about 5 per cent. The company reported a decent growth in its results for the quarter ended on September 30, 2023. The stock rose about 5 per cent from an intraday low at Rs 221.10 to hit Rs 230.95 on NSE. However, it finally settled at Rs 229.
Nirman Agri Genetics reported a 16 per rise in the net profit on a year-on-year basis to Rs 2.11 crore for the quarter ended on March 31, 2023. The company had clocked a bottomline of Rs 1.81 crore in the same year previous year. Its revenue jumped more than 17 per cent to 12.95 crore in Q2FY24.
For the half year ended on September 30, 2023, the SME player Nirman Agri Genetics reported a net profit at Rs 3.93 crore with a revenue for 23.99 crore. However, figures for the same period previous year were not disclosed in the exchange filing. The company was listed on the SME platform of the National Stock Exchange (NSE).
Nirman Agri Genetics was listed at the bourses in March this year. The company sold its shares at an issue price of Rs 99 to raise Rs 20.30 crore via primary offering. Nirman Agri Genetics have rallied about 375 per cent from its 52-week low at Rs 48.80 and it is up 135 per cent from its issue price.
Incorporated in 2020 Nirman Agri Genetics, is engaged in the business of production, processing, and marketing of high-quality hybrid seeds, pesticides, and bio-organics, which are used for different crops like corn, sunflower, cotton, paddy, grain sorghum, among others.
Also Read: Nestle India Q3 results: Profit jumps 37% to Rs 908 crore; FMCG firm announces dividend, stock split