Balrampur Chini stock jumps despite firm reporting weak operational numbers

Balrampur Chini Share Price: Balrampur Chini shares were rising higher in morning deals on Wednesday (November 8) despite the mid-cap sugar manufacturer reporting operationally weak numbers on Tuesday. 

The stock of Balrampur Chini was trading higher by 0.74 per cent, or Rs 3.20, at Rs 435.30, at 10 am on BSE on Wednesday after the company reported a jump to Rs 166 crore in its profit in the September quarter from a loss of Rs 16 crore in the year-ago period.

This beat Zee Business research estimates of Rs 97 crore.

The company also beat analysts' estimates in terms of consolidated revenue from operations, reporting a 38 per cent jump to Rs 1,540 crore from Rs 1,113 in the year-go period, better than estimates of Rs 1,335 crore.

Though Balrampur Chini's EBITDA soared to Rs 165 in Q2 from a loss of 16 crore in the same quarter last fiscal, it failed to meet analysts' estimates of Rs 191 crore.

Its margin of 10.74 per cent in the second quarter of the current financial year were also tad lower than the anticipated margin of 14.3 per cent.