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Avanti Feeds plunges 10% post June quarter numbers

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Shares of Avanti Feeds tanked as much as 10.58 per cent on early Tuesday on disappointing quarterly show. The company on Monday reported 41.59 per cent year-on-year fall in net profit at Rs 85.67 crore for the quarter ended June 2018.

It had posted a net profit of Rs 146.68 crore in the same quarter last year. Revenue from operations increased to Rs 1,040.24 crore in Q1 FY19 over Rs 998.17 crore in Q1 FY18.

The scrip declined over 10 per cent to an intraday low of Rs 483.15 as against previous close of Rs 540.30.

The BSE Sensex was up 0.03 per cent at 37,703.70 early today. Profit before tax slipped 39.71 per cent YoY to Rs 136.56 crore for the quarter under review against Rs 226.52 crore in the same period last year. Total expenses stood at Rs 917.28 crore in the June quarter against Rs 777.89 crore last year.




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