Heritage Foods drops after weak Q2 results

Heritage Foods was down 1.52% to Rs 681.90 at 9:46 IST on BSE after consolidated net profit fell 55.1% to Rs 7.42 crore on 31.7% growth in net sales to Rs 616.08 crore in Q2 September 2017 over Q2 September 2016.

The result was announced after market hours yesterday, 9 November 2017.

Meanwhile, the S&P BSE Sensex was down 49.59 points or 0.15% at 33,201.34. The S&P BSE Mid-Cap index rose 20.33 points or 0.12% at 16,598.25, outperforming the Sensex.

On the BSE, 1.24 lakh shares were traded on the counter so far as against average daily volumes of 9,748 shares in the past one quarter. The stock had hit a high of Rs 727 and a low of Rs 672.40 so far during the day. The stock had hit a record high of Rs 830 on 10 October 2017 and a 52-week low of Rs 365.20 on 9 November 2016.

The stock had underperformed the market over the past one month till 9 November 2017, sliding 9.69% compared with the Sensex's 4.41% rise. The stock had, however, outperformed the market over the past one quarter, gaining 7.73% as against the Sensex's 4.57% rise. The scrip had also outperformed the market over the past one year, advancing 57.04% as against the Sensex's 22.01% rise.

The mid-cap company has equity capital of Rs 23.20 crore. Face value per share is Rs 5.

Heritage Foods operates in dairy, renewable energy and vetca (animal nutrition) segments.

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