Net profit decreased by 9%, yet shares of this company rose by 3%, know the main reason for this

Excluding Other Income, EBITDA of Indigo Paints declined by 7.9% in Q4

Excluding Other Income, EBITDA of Indigo Paints declined by 7.9% in Q4

Even though Indigo Paints net profit declined in the fourth quarter, its revenue from operations increased by 40.8%

New Delhi. The March quarter results of the paint company Indigo Paints did not meet expectations. The company’s profit declined in the fourth quarter. However, even after this, investors continue to trust the company. At the same time, on Friday, the shares of the company rose by three percent in the stock markets. Indigo Paints, which was recently listed on the stock market, declined 8.9% year-on-year in net profit to Rs 24.8 crore. Whereas, the company had a net profit of Rs 27.3 crore in the same quarter last year. The company released its quarterly results after the market closed on Friday. Due to this, the company’s stock today had no effect on the company’s weak results. Shares of the company closed at Rs 2,484.95, up 2.69% on the BSE today. Whereas, in early trade the shares of the company had jumped by more than 9% to reach Rs. 2639. Also read: This bank made changes in FD rates, you can also avail higher interest rate, know everything Revenue to the company increased from 80.54 crores to 254.27 croresAlthough the company’s net profit may have declined in Q4 of FY21, its revenue from operations increased by 40.8% to Rs 254.27 crore as compared to Rs 80.54 crore in the same period last year. The company said in its regulatory filing that excluding other income, the company’s EBITDA declined by 7.9% in Q4 to Rs 42.94 crore from Rs 46.61 crore in Q4 a year earlier. Also read: Delay for final settlement of LTC, now bills can be submitted by this date
IndiGo Paints IPO117 times over-subscribed Indigo Paints said that the company’s margin in Q4 has been affected due to rising raw material prices. Also, due to the IT Act of more than 4 crore rupees in the company’s net profit, due to the deduction of Goodwill. Let me tell you that the IPO of IndiGo Paints came in the March quarter and it was over-subscribed 117 times.




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