LT Foods shares slump 14% after Q2 FY25 results. Details here
During Q2 FY25, LT Foods recorded a 4.86 per cent year-on-year (YoY) dip in its consolidated net profit as against Rs 155.97 crore in corresponding period last year.
- Oct 24, 2024,
- Updated Oct 24, 2024 3:56 PM IST
Shares of LT Foods Ltd on Thursday fell sharply after the company announced its second quarter (Q2 FY25) results. The stock plunged 14.09 per cent to hit a day low of Rs 348.20. It was last seen trading 11.18 per cent lower at Rs 360. At this price, the scrip has gained 77.03 per cent on a year-to-date (YTD) basis.
During Q2 FY25, the company recorded a 4.86 per cent year-on-year (YoY) dip in its consolidated net profit as against Rs 155.97 crore in corresponding period last year.
However, revenue from operations rose 6.57 per cent to Rs 2,107.79 crore in Q2 FY25 from Rs 1,977.79 crore in the year-ago period.
Ashwani Arora, Managing Director & CEO at LT Foods, said, "Despite a disrupting external environment, especially the Red Sea crisis, we remained resilient and delivered sustained growth this quarter. Revenue grew by 7 per cent YoY, driven by accelerated brand investments and the expansion of our distribution network, particularly in the Basmati & Specialty Rice segment. This growth was further supported by strong performance in our Organic Food & Ingredients and Ready-to-Eat (RTE) and Ready-to-Cook (RTC) segments."
The basmati and specialty rice segment achieved a 9 per cent YoY growth, while the organic food and ingredients segment registered strong demand, growing by 41 per cent. The RTE and RTC segment also performed well, with 8 per cent YoY growth.
LT Foods' cash profit stood at Rs 195 crore, up 1 per cent YoY.
The company's Board has also approved third interim dividend of 50 paise per share of face value of Re 1 each for FY25. It has fixed November 4, 2024, as the record date for the purpose of payment of interim dividend. The said dividend will be paid to shareholders within a period of 30 days.
Shares of LT Foods Ltd on Thursday fell sharply after the company announced its second quarter (Q2 FY25) results. The stock plunged 14.09 per cent to hit a day low of Rs 348.20. It was last seen trading 11.18 per cent lower at Rs 360. At this price, the scrip has gained 77.03 per cent on a year-to-date (YTD) basis.
During Q2 FY25, the company recorded a 4.86 per cent year-on-year (YoY) dip in its consolidated net profit as against Rs 155.97 crore in corresponding period last year.
However, revenue from operations rose 6.57 per cent to Rs 2,107.79 crore in Q2 FY25 from Rs 1,977.79 crore in the year-ago period.
Ashwani Arora, Managing Director & CEO at LT Foods, said, "Despite a disrupting external environment, especially the Red Sea crisis, we remained resilient and delivered sustained growth this quarter. Revenue grew by 7 per cent YoY, driven by accelerated brand investments and the expansion of our distribution network, particularly in the Basmati & Specialty Rice segment. This growth was further supported by strong performance in our Organic Food & Ingredients and Ready-to-Eat (RTE) and Ready-to-Cook (RTC) segments."
The basmati and specialty rice segment achieved a 9 per cent YoY growth, while the organic food and ingredients segment registered strong demand, growing by 41 per cent. The RTE and RTC segment also performed well, with 8 per cent YoY growth.
LT Foods' cash profit stood at Rs 195 crore, up 1 per cent YoY.
The company's Board has also approved third interim dividend of 50 paise per share of face value of Re 1 each for FY25. It has fixed November 4, 2024, as the record date for the purpose of payment of interim dividend. The said dividend will be paid to shareholders within a period of 30 days.