India's Bikaji Foods slumps on Q3 profit drop

Bikaji Foods International

07/02/2025 04:50

** Indian snacks maker Bikaji Foods  BIKA.NS  slides as much
as 12.97% to 638.55 rupees, last down ~10.5% 
    ** BIKA's Q3 profit after tax fell ~37% y/y to 307.9 bln
rupees, owing to a ~15% rise in expenses 
    ** Rev from ops grew ~18%; its EBITDA margin narrowed to
7.8% from 12% a year ago 
    ** Co said EBITDA margin contraction due to strong
inflationary pressure, unfavorable raw material prices 
    ** Stock eyes busiest trading session in near 4-mnths,
volumes at 5x the 30-day avg 
    ** BIKA stock rated "buy" on avg by four brokerages, median
PT at 937 rupees - LSEG data 
    ** Stock down ~17% YTD vs ~3% fall in Nifty 500 index
 .NIFTY500  

 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com; +918447554364;))