lndo Rama Synthetics stock slumps 4.5% despite turnaround in Q1 PAT to Rs14.22cr

Indo Rama Synthetics (India) Limited on Wednesday recorded consolidated total income at Rs695.31cr in June 30, 2021, ended the first quarter, an increase of 478% yoy compared to Rs120.28cr in June 30, 2020, ended quarter.

“Operations in Q1FY21 was impacted due to Covid-19 lockdown. The second wave of Covid-19 also affected the operations in Q1FY22 due to partial lockdown in most of the States in Q1FY22,” the company said in a filing on Wednesday.

For Q1FY22, Profit After Tax recorded a substantial improvement to Rs14.22cr as against a loss of Rs(77.63)cr in Q1FY21. Profit Before Tax also showed turnaround to Rs14.31cr from loss of Rs77.63 in Q1FY21. EBITDA for the quarter under review improved to Rs35.37cr as against EBITDA loss of Rs(37.43)cr in Q1FY21.

At around 12.48 pm, Indo Rama Synthetics (India) Ltd was trading at Rs55 per piece down by Rs2.6 or 4.51% from its previous closing of Rs57.60 per piece on the BSE. The scrip opened at Rs55.95 and has touched a high and low of Rs55.95 and Rs54.75 respectively, during intraday trade on Thursday. 

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( With inputs from indiainfoline)