Mishtann Foods was locked in an upper circuit of 5% at Rs 29.1 after the company reported a steeply higher standalone net profit of Rs 13.15 crore in Q4 FY22 as against Rs 0.35 crore recorded in Q4 FY21.
Revenue from operations increased nearly 46% to Rs 153.47 crore in Q4 FY22 from Rs 105.18 crore posted in Q4 FY21. Profit before tax surged to Rs 20.94 crore in Q4 FY22 from Rs 0.46 crore reported in Q4 FY21.Meanwhile, the board of directors recommended bonus issue of shares in the ratio of 1:1. The board proposes to issue 1 bonus equity shares to the existing shareholders for every 1 existing paid up equity share held by them as on a record date, to be fixed for the said purpose.
Mishtann Foods produces and sells wheat, toor dal and basmati rice under the brand name Mishtann in India.
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