Ganesh Housing revenue and profit fall; merger approved
GANESHHOU · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 4.2 pts less than Nifty Microcap 250 and 3.8 pts less than its Residential Commercial Projects peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Consolidated Q2 revenue fell 26.6 percent to Rs 174.21 crore and net profit fell 31.8 percent to Rs 108.09 crore. For the first half, revenue was Rs 325.02 crore and profit was Rs 201.15 crore, but cash from operations was negative Rs 228.63 crore. The board approved merging wholly owned Gatil Properties, with no new shares or cash payment.
Lower revenue, profit and cash generated from operations may pressure the stock; merger benefits depend on approvals.