New Delhi: Shares of Fertilisers & Chemicals Travancore (FACT) Ltd. saw a decline of up to 7% following the announcement of their June quarter results on Tuesday.
The company reported a net loss of Rs 48.7 crore for the April to June quarter, in contrast to a profit of Rs 71.8 crore in the corresponding quarter last year.
FACT’s revenue for the quarter stood at Rs 599.6 crore, marking a 51.4% decrease from Rs 1,232.6 crore in the same period last year.
The Earnings Before Interest, Tax, Depreciation, and Amortisation (EBITDA) also saw a reduction to Rs 56.6 crore from Rs 147 crore year-on-year.
Despite the shares of FACT experiencing an approximate 3,000% increase, the likelihood of significant earnings for the average retail investor remains slim due to the limited free float of the stock in the market.
As per the shareholding pattern from March, the government holds a 90% stake in FACT, while the National Investment Fund, another government body, owns 8.56%. This arrangement leaves only a 1.44% stake for the public, with Mutual Funds and Insurance Companies holding 0.03% and 0.01%, respectively.
Currently, FACT Ltd. shares are trading at a 4.1% decrease at Rs 952.6. The stock has appreciated roughly 16% in 2024. Following Tuesday’s decline, the company’s market capitalisation stands at Rs 62,238 crore.
