Huhtamaki reports net loss of Rs13.52cr post Dec 2021; stock jumps ~5%

2 Mar 2022 , 03:58 PM

Huhtamaki India Ltd., a multinational packaging solutions company, reported its revenue from operations at Rs648.46 crore for the quarter ended December 2021, as compared to Rs547.41 crore for the quarter ended December 2020, registering a growth of 18.46% yoy.

Company’s net loss stood at Rs13.52 crore for the quarter ended December 2021 as compared to profit of Rs5.08 crore for the previous corresponding quarter. Net loss for the year ended December 2021 was Rs22.69 crore against profit of Rs95.99 crore in the previous year.

Its revenue for the financial year ended December 2021 stood at Rs2,570.86 crore as compared to Rs2,418.80 crore for the year ended December 2020, reflecting a growth of 6.29% yoy.

The company’s loss before taxes for the quarter was Rs18.11 crore against a profit of Rs7.76 crore in the previous corresponding quarter. Loss before taxes for the year ended December 2021 stood at Rs31.57 crore as against a profit of Rs117.59 crore, sinking drastically.

Huhtamaki’s stock ended at a higher note on Rs178, up by Rs8.45 or 4.98%, against its previous closing price of Rs169.55. It touched day’s high and low of Rs179.90 and Rs162.05 respectively.