Shares of SRF Ltd. shed nearly 4.4% to Rs 2,120 apiece after the company reported net income for the second quarter that missed the average analyst estimate.
September Quarter Results (Consolidated, QoQ)
- Net income down 3.2% at Rs 382.45 crore vs Rs 395.28 crore (Bloomberg Consensus Estimate: Rs 420 crore)
- Revenue up 5.17% at Rs 2,838.97 crore vs Rs 2,699.40 crore (Estimate: Rs 2,757 crore)
- Total costs at Rs 2,317.67 crore vs Rs 2,178.27 crore
- Other income at Rs 11.12 crore vs Rs 13.78 crore
Of the 25 analysts tracking the company, 18 maintained ‘buy’, five maintained ‘hold’ and two maintained ‘sell’ recommendations. The overall consensus price of analysts tracked by Bloomberg implied a downside of 15.2%
