Prabhat Dairy slides on profit taking

Prabhat Dairy fell 1.57% to Rs 131.70 at 12:11 IST on BSE, with the stock sliding on profit booking after recent rally.

Meanwhile, the S&P BSE Sensex was down 126.47 points or 0.4% at 31,164.27. The S&P BSE Small-Cap index declined 277 points or 1.77% at 15,332.49.

On the BSE, 42,000 shares were traded on the counter so far as against the average daily volumes of 58,634 shares in the past one quarter. The stock had hit a high of Rs 136 and a low of Rs 130.50 so far during the day. The stock had hit a 52-week high of Rs 150 on 13 February 2017 and a 52-week low of Rs 76.80 on 19 August 2016.

The stock had outperformed the market over the past one month till 22 June 2017, advancing 10.03% compared with the Sensex's 2.35% rise. The stock had also outperformed the market over the past one quarter, gaining 12.53% as against the Sensex's 7.28% rise. The scrip had also outperformed the market over the past one year, advancing 32.61% as against the Sensex's 16.91% rise.

The small-cap company has equity capital of Rs 97.68 crore. Face value per share is Rs 10.

Shares of Prabhat Dairy had risen 10.35% in the preceding four trading sessions to settle at Rs 133.80 yesterday, 22 June 2017, from its closing of Rs 121.25 on 16 June 2017.

On consolidated basis, Prabhat Dairy reported net loss of Rs 1.78 crore in Q4 March 2017, compared with net profit of Rs 5.84 crore in Q4 March 2016. Net sales rose 23% to Rs 377.18 crore in Q4 March 2017 over Q4 March 2016.

Prabhat Dairy is an integrated milk and dairy products company. The company is engaged in the business of procurement and processing of milk and sale of milk and milk products, such as ghee, flavored milk, skimmed milk powder, whole milk powder and condensed milk.

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