Campus Activewear shares zoom 14% on strong Q4 results
Campus Activewear surged almost 14 percent in intra-day deals on Wednesday after the company reported strong earnings for the quarter ended March 2024 (Q4FY24).In the March quarter, the company posted a 42.6 percent year-on-year (YoY) jump in its net profit at ₹32.7 crore as against ₹23 crore in the same period last year. Meanwhile, its revenue rose 4.6 percent YoY to ₹364 crore versus ₹345 crore in the year-ago period.Sequentially, the company's net profit grew 31.5 percent from ₹24.9 crore in the December 2023 quarter (Q3FY24) whereas revenue fell 23 percent QoQ from ₹471 crore in Q3FY24 due to seasonality effect.On the operating front, EBITDA rose 16 percent YoY to ₹66.4 crore in Q4FY24 as compared to ₹57.1 crore in Q4FY23.
It was up 15.3 percent sequentially. EBITDA margin also increased to 18.3 percent in the quarter under review from 16.4 percent in the year-ago period and 12.2 percent in the December quarter.The stock rose as much as 13.7 percent to its day's high of ₹284.45.
Post today's rally, the stock has now advanced 33.6 percent from its 52-week low of ₹212.80, hit on March 28, 2024. Meanwhile, its is still over 17 percent away from its 52-week high of ₹344, hit on May 30, 2023.The stock has shed 30 percent in the last 1 year and is up 1.6 percent in 2024 YTD.
It has risen over 14 percent in May so far, extending gains after an over 15 percent jump in April. However, it was in the red in the first 3 months of the year, down 12 percent in March and February each; and 1.5 percent in January 2024.For the full financial year 2023-24 (FY24), the company's net profit declined 23.7 percent to ₹89.4 crore versus ₹117 crore in FY23.
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