Stove Kraft share price: Stove Kraft shares suffered steep losses on Tuesday, a day after the cooking appliances maker reported a weak set of financial results for the quarter ended March 2023. The Stove Kraft stock — traded on bourses under the symbol STOVEKRAFT —  finished with a loss of 12.3 per cent at Rs 437.6 apiece on BSE, after falling as much as 12.9 per cent to Rs 434.8 apiece during the session.  

Stove Kraft Q4 results

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After market hours on Monday, Stove Kraft — which manufactures products under brands Skava, Pigeon and Gilma — reported a net loss of Rs 6 crore for the last quarter of the financial year 2022-23, as against a net profit of Rs 8.6 crore for the corresponding period a year ago. 

The company's revenue dropped 6.4 per cent on a year-on-year basis to Rs 278 crore, according to a regulatory filing.

Bengaluru-based Stove Kraft reported Rs 5.8 crore in earnings before interest, taxes, depreciation and ammortisation (EBITDA), as against Rs 15.5 crore for the year-ago period.

Its margin more than halved to 2.1 per cent for the quarter ended March 2023 from 5.93 per cent a year ago, according to the filing. 

As many as 94,000 Stove Kraft shares changed hands on BSE during the course of the day, as against a daily average of 40,000 in the past two weeks, according to provisional exchange data. 

Stove Kraft shares: Past performance

Stove Kraft shares lost 25.9 per cent of their value in the March quarter, a period in which the Nifty benchmark declined 4.1 per cent. 

Stove Kraft debuted in the secondary market in February 2021, after the company's IPO concluded with a subscription of 18 times the shares on offer.

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