Q3 Results: These two companies saw their profits double, revenue rise, but one stock fell - read the reason

News Topical, Digital Desk : Shortly before market close, two companies, both part of the BSE 1000 index, reported sharp increases in their profits. These companies are PN Gadgil and Venkys (India) Ltd.
PN Gadgil's profits increased by 99%, and earnings also saw a sharp increase. The stock rose more than 6% following the results. Meanwhile, Venkys (India) Ltd.'s profits more than doubled year-over-year. Earnings also increased, although the company's stock declined sharply, falling more than 5%. The company has issued a statement regarding the impact of bird flu on its business.

The company, which is a part of the BSE 1000, reported a strong third-quarter performance. The company's net profit increased by a robust 99% year-over-year to ₹171 crore, compared to ₹86 crore in the same period last year. Revenue also saw a strong 35.6% increase, rising from ₹2,435.7 crore to ₹3,303 crore. EBITDA more than doubled, rising from ₹122.4 crore to ₹247 crore. Margins also improved markedly, rising from 5% to 7.5%. Following the strong results, the company's stock rose by over 6%.

Venky's (India)

Venky's Q3 results were strong on both profit and operating levels, although the stock market response was negative. The BSE 1000 listed company's net profit increased year-on-year to ₹48.6 crore, up from ₹20.4 crore last year. Revenue increased 9%, from ₹882 crore to ₹960 crore. EBITDA also saw a strong jump, rising from ₹29 crore to ₹69.6 crore. Margins improved from 3.3% to 7.3%. Despite this, the company's stock fell nearly 5% after the results. The company has stated that the impact of bird flu will be limited and that it is continuously taking steps to minimize its impact. In the last financial year, 45% of the company's total sales came from poultry operations.

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