India's Mrs. Bectors Food hits record high as Q4 profit nearly triples

Mrs. Bectors Food Specialities

26/05/2023 06:44

** Shares of Mrs. Bectors Food Specialities Ltd  MRSB.NS 
rise as much as 8.26% to record high of 714.70 rupees
    ** Biscuit maker reports consolidated net profit in March
quarter that nearly triples YoY to 276.54 mln rupees 
    ** Revenue from operations up 37% to 3.46 bln rupees; core
profit almost doubles to 482.57 mln rupees
    ** Core profit margin expands to 13.95% from 10.10% Y/Y
    ** Stock most active in over two months, with trading volume
of 1.08 mln shares as of 11:02 a.m. IST, 4.4x the 30-day avg -
Refinitiv data
    ** Stock's relative strength index is 79, suggesting it may
be overbought
    ** Of the five analysts tracking MRSB, four maintain "buy"
and one recommends "hold"; median PT is 617 rupees
 

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))