Rain Industries share price down 12% of Rs 97 crore loss in forth quarter.

Rain Industries share price down 12% of Rs 97 crore loss in forth quarter.

Rain Industries share price was down more than 12 percent in the morning session on February 28 after the company posted a consolidated net loss of Rs 97 crore in the December quarter against a profit of Rs 307 crore in the year-ago period.

The company's net sales, however, jumped 52 percent to Rs 4,026 crore in the quarter from Rs 2,640 crore in the same period of the previous year, while adjusted EBITDA was up almost 13 percent to Rs 541 crore. EBITDA margin slipped to 13.4 percent from 18.2 percent in the year-ago quarter. The company follows January-December financial year.

Profit before tax sharply declined by 49.8% to Rs 223.46 crore in Q4 December 2021 over Q4 December 2020.

The company reported finance costs of Rs 119 crore, a drop from Rs 124 crore during the fourth quarter of 2020. The decrease in finance costs was due to the depreciation of the euro against the Indian rupee by 2.6 percent coupled with lower utilisation of working capital borrowings compared to last-year quarter.

On the operational front, sales of calcined petroleum coke fell 6.9 percent YoY to Rs 367,000 MT in Q4 December 2021 over Q4 December 2020. The volume of coal tar pitch grew by 18 percent to 131,000 MT in Q4 December 2021 over Q4 December 2020. Meanwhile, sales volume of other carbon products declined 2.9 percent to 132,000 MT in Q4 December 2021.

Also Read : Stocks In the News: Bharti Airtel, Reliance Industries, Hindalco and others

For the year, adjusted net profit after tax grew by 42 percent YoY to Rs 756 crore on a 38.8 percent YoY rise in revenue from operations to Rs 14,526.8 crore.

At 10.24 am, the stock was trading at Rs 176.05, down Rs 23.65, or 11.84 percent, on BSE. It touched an intraday high of Rs 184.75 and an intraday low of Rs 171.40.

Around 575,230 shares had changed hands compared to its five-day average of 368,758 units, an increase of 55.99 percent.

Rain Industries is a vertically integrated global producer of a diversified portfolio of products that are essential raw materials. It operates in three business segments: Carbon, Advanced Materials and Cement.

Shares of Rain Industries closed 9.36% higher at Rs 199.70 on Friday.

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