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Kaveri Seed Company spurts after decent Q1 results

Capital Market 

The seed company's consolidated net profit rose 9.6% to Rs 230.24 crore on 8.4% increase in net sales to Rs 627.58 crore in Q1 June 2019 compared with Q1 June 2018.

Kaveri Seed Company rose 5.26% to Rs 462.10. Consolidated EBITDA grew 8.7% to Rs 240.21 crore in Q1 June 2019 over Q1 June 2018. Consolidated EBITDA margin stood at 38.28% in Q1 June 2019 as against 38.19% in Q1 June 2018. Total cash investments were at Rs 497.39 crore as on 30 June 2019. The result was announced after trading hours yesterday, 13 August 2019.

Meanwhile, S&P BSE Sensex was up 427.71 points or 1.16% at 37,385.87.

On BSE, 6,923 shares were traded in Kaveri Seed Company counter, compared to a 2-week average of 60,000 shares. The stock hit an intraday high of Rs 465.65 and an intraday low of Rs 448.35. It hit a 52-week high of Rs 659.95 on 31 August 2018 and a 52-week low of Rs 376 on 20 February 2019.

Kaveri Seed Company is engaged in the production, processing and marketing of hybrid seeds. It owns over 600 acres of farm land. It offers products in two categories: filed crops and vegetables.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, August 14 2019. 13:37 IST