Excellent first-quarter has failed to cheer the Nahar Export's stock on the bourses. Although the performance by Nahar Exports has come on the expected lines, the stock in the past two sessions has dropped from Rs 21 to Rs 18. The market, had ahead of the first-quarter results, risen from Rs 13 to a high of Rs 26. The stock, however, has been sliding from its high of Rs 26 due to profit taking.

Nahar Exports Ltd (NEL), part of Rs 1,400 crore Nahar group, has reported a three-fold increase in net to Rs 6.04 crore in the first-quarter, up from Rs 2.41 crore reported in the corresponding period of last year. The rise in bottomline is on the back of a 33 per cent jump in turnover to Rs 104.74 crore against Rs 76.18 crore in the first-quarter of the previous year.

There has been a marked improvement in the export income as well, which has resulted in higher realisations and an improvement in margins. Export turnover increased by more than Rs 20 crore from Rs 35.42 crore to Rs 56.24 crore during the period under consideration. The results for both the periods includes the performance of Nahar Fibres. The merger has resulted in a substantial cost saving.

-- Sanjay Sardana

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