Manpasand Beverages strong Q4FY18 result gives mixed cues to investors; 256% rise in profit to Rs 43 crore
Manpasand Beverages posted a net profit of Rs 42.74 crore which was higher by a massive 256.46% compared to Rs 11.99 crore in the preceding quarter.
Finally Manpasand Beverages has announced their fourth quarter ended March 2018 (Q4FY18) result, and looking at the performance the company has recorded strong top-line and bottom-line growth. However, this has definitely cheered investors as they boosted the company’s stock price, which was trading on a negative note since start of today’s trading session. Manpasand posted a net profit of Rs 42.74 crore which was higher by a massive 256.46% compared to Rs 11.99 crore in the preceding quarter. The Q4FY18 profit also surged by 36.42% as against net profit of Rs 31.33 crore in the corresponding period of the previous year.
The moment results were announced, Manpasand share price reverse trends and jumped to as much as 5% with an intraday high of Rs 4.97%. However at around 1452 hours, the share price of Manpasand was very buoyant as it was trading at Rs 148 per piece mostly muted compared to previous day price.
In first half of trading session, the share price of Manpasand tumbled by almost 5% with an intraday low of Rs 140.45 per piece on BSE.
Revenue from operations stood at Rs 392.94 crore in Q4FY18, which was higher by 39.37% from Rs 281.92 crore in Q4FY17 and up by 164.73% from Rs 148.43 crore in Q3FY18.
For entire FY18, Manpasand’s net profit grew by 37.67% yoy to Rs 99.99 crore and revenue by 34% at Rs 984.95 crore.
On May 26, Manpasand’s auditor Deloitte Haskins & Sells, Chartered Accountants, Vadodara, resigned as Statutory Auditors of the company.
There was no clarity given to why Deloitte could not finish the financial report. Deloitte was the statutory auditor of Manpasand since FY11.
Last year, the announcement of the fourth quarter results was postponed from 29th May 2017 to 13th June 2017, marking a delay of 15 days. Moreover, the results were announced without any qualification by the statutory auditor.
In today's meeting, Manpasand board has recommended Final Dividend at 5% on the face value of Rs. 10/- per equity share, for the Financial Year ended March 31, 2018, subject to requisite approvals.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.