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09 February 2022, Mumbai:
Shares of Indo Count Industries hit an eight-month low, down 4 per cent at Rs 204 on the BSE in Wednesday’s intra-day trade, falling 14 per cent in the past three trading days after the company's PAT declined 23 per cent year-on-year at Rs 71.2 crore on the back of exceptional expenses worth Rs 21 crore.
The stock of the textiles company was trading at its lowest level since July 2021. In the past one month, it has underperformed the market by falling 22 per cent, as compared to a 2.4 per cent decline in the S&P BSE Sensex.
The stock has corrected 35 per cent from its 52-week high level of Rs 315 touched on October 11, 2021.
In Q3FY22, the company’s total income declined 1 per cent YoY at Rs 787 crore. Earnings before interest tax and depreciation and amortization (ebitda) margin improved 60 bps at 18.6 per cent. Volumes declined 12 per cent YoY to 21.1 million metre.
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*Figures mentioned in the above article have been sourced from Business Standard & Money Control article.
