Q2 profit swings positive; Greenpet buyout and Chhata closure approved
RSWM · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 0.2 pts less than Nifty Microcap 250 and 0.2 pts more than its Other Textile Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Standalone Q2 revenue fell 1.4% to Rs 1,149.95 crore, but profit after tax swung to Rs 6.28 crore from a Rs 21.20 crore loss. Half-year revenue fell 2.3% to Rs 2,319.14 crore, while profit reached Rs 13.24 crore against a Rs 34.88 crore loss. The board approved buying no-revenue LNJ Greenpet from a related group company for Rs 20.01 crore and closed the Chhata spinning unit. RSWM also invested Rs 60 crore in 60 MW of renewable power.
Profit recovery supports sentiment, but weak revenue, new investments and the Chhata closure may weigh on cash flow and operations.