India's Hatsun Agro set for worst day in 5 months on lower Q3 profit

Hatsun Agro Product

17/01/2025 05:41

** Shares of Hatsun Agro Product  HAPL.NS  fall as much as
7.2% to 964.75 rupees, sharpest intraday pct loss since Aug. 5,
2024; currently down 6.8%
    ** Dairy products maker reports ~29% Y/Y fall in Q3 PAT, rev
from ops up 6.5% Y/Y
    ** Total expenses jump 7.8% Y/Y
    ** ICICI Securities downgrades stock to "Add" from "Buy",
cuts TP to 1,140 rupees from 1,250 rupees
    ** Sees signs of rising milk procurement prices due to a
delayed and weaker-than-expected flush season
    ** Expects prices to inch higher in Q4 FY25–26, reckons
there is potential for margin impact for dairy cos this fiscal
    ** More than 86,000 shares change hands, 2.5x of 30-day avg
    ** Stock fell 15.5% in Dec qtr, snapping two straight
quarterly gains



 (Reporting by Ashish Chandra in Bengaluru)
 ((ashish.chandra@thomsonreuters.com (+91 7982114624))