Mrs Bectors Food Records Fresh All-Time Low Post Flop Q3 Results

  • Investing.com
  • Stock Market News
Mrs Bectors Food Records Fresh All-Time Low Post Flop Q3 Results
Credit: © Reuters.

By Malvika Gurung

Investing.com -- Shares of the biscuits and bakery items manufacturer Mrs Bectors Food Specialities (NS: MRSB ) sank 2.6% to Rs 308.95 apiece at 1:40 pm, after hitting an all-time low at Rs 299.7 apiece on the NSE on Wednesday.

The biscuits stock has been spiralling down for over a week, backed by unimpressive quarterly earnings results for the Oct-Dec 2021 period. The stock has plunged 16% in the past month.

Despite a 17% YoY growth in consolidated revenue at Rs 263 crore in Q3 FY22, led by price hikes and growth in sales across the biscuit and bakery sector, the company’s profit after tax declined 25% YoY to Rs 263 crore in the period.

In the Apr-Dec 2021, nine-month period, revenues of the mid-premium biscuits company advanced 12% YoY to Rs 736 crore, and PAT slid 21% YoY to Rs 47 crore.

Due to rising raw material prices and packaging costs, the price hikes taken by the company held no effect, as its EBITDA margins contracted by 500 bps on a YoY basis and 150 bps sequentially at 12.6% in the quarter under review.

The EBITDA fell 16% YoY to Rs 33 crore in the quarter and by 13% to Rs 97 crore in the nine-month period.

The company also declared an interim dividend of Rs 1.25/share for the ongoing financial year.

Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb

Error: File type not supported

Drop an image here or

100

Related Articles