Bikaji Foods shares surge over 3% on Q2 earnings; check details

Shares of Bikaji Foods Ltd surged over 3% in early deals today after the firm reported a 47% rise in net profit for the quarter ended September 2023. Net profit rose to Rs 61.2 crore for the quarter ended September 2023 against Rs 41.5 crore profit in the September 2022 quarter. Bikaji Foods revenue rose to Rs 614.7 crore in Q2 against Rs 582.7 crore in the corresponding period of the preceding fiscal. 

Operating margin in percentage terms climbed to 14.14% in the last quarter against 11.13% in the September 2022 quarter. 

EBITDA zoomed to Rs 87.7 crore in Q2 against Rs 64.2 crore in the September 2022 quarter.  

Earnings per share rose to Rs 2.5 in the last quarter against Rs 1.7 in the September 2022 quarter.  

Bikaji Foods stock rose 3.5% to Rs 516.30 in early deals today against the previous close of Rs 498.85 on BSE.  

The stock opened higher today at Rs 505.85 against the previous close of Rs 498.85. Total 0.35 lakh shares of the firm changed hands amounting to a turnover of Rs 12,907 crore. Market cap of the firm rose to Rs 12,907 crore.       

In terms of technicals, the relative strength index (RSI) of the stock stands at 60.9, signaling the stock is neither overbought nor oversold on technical charts. Bikaji Foods shares are trading higher than the 5 day, 20 day, 30 day 50 day, 100 day and 200 day moving averages.    

Bikaji Foods is a snacking company. The company is primarily involved in the manufacturing, purchase and sale of snacks food. It offers a range of products across six categories: bhujia, namkeen, sweets, papad, western snacks and other snacks. It exports snacks, sweets, frozen food, and savories to over 25 countries, including North America, Asia Pacific, the Middle East, the European Union, Africa, and the United Kingdom. 

 

 

 

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