Stock Market Today: Small-cap penny stock Rana Sugars Ltd gained jumps 5% in the morning trades on Monday, despite weak markets.
The gains for Rana Sugar were led by its announcements on the exchanges pertaining to the financial performance for October -December 2024 quarter and first nine months.
Rana Sugars Q3 Results
Rana Sugars net profit for the quarter ending December 2024 at ₹14.20 crore grew multifold over ₹5.5 crore in the year ago quarter.
Rana Sugar’s revenues from operations at ₹390.35 crore during the December 2024 quarter was up almost 16% compared to ₹337.16 Crore in the year ago quarter
On the sequential basis too the Rana Sugar Net profit at ₹14.20 crore in Q3FY25 was much better than a loss of ₹14.5 Crore in Q2 FY25 (July- September quarter). However the Sugar season starts during the October to December quarter only with the arrival of fresh crop of sugar cane. The July to September quarter on the other hand does not sees any major production activity and Mills only sell any left over inventory during the quarter and opt for maintenace activities of plant too. Thus year on year growth reported by Rana Sugars during the October -December quarter is the ony relevant parameter to gauge for performance and not the sequential matrix.
Rana Sugars share price movement
Rana Sugars share price opened at ₹14.70 on the BSE on Monday, which was more than 8 % higher than the previous day’s closing price of ₹13.61. Rana Sugars share price gained further to intraday highs of ₹15.35, which meant gains of more than 12% on a day when teh Benchmark S&P Sensex was down more than 400 points. The Rana Sugars share price thereafter oscillated between intraday highs of ₹15.35 and ₹14.07 o the BSE on Monday
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