Rain Industries Ltd. Shares Tumble 10% in Early Wednesday Trading Following Revenue Decline and Net Loss Report for December Quarter.
Rain Industries Reports Net Loss of ₹1,078 Crore for December Quarter, Compared to ₹66 Crore Loss in September Quarter; Tax Expenses Double to ₹995 Crore, Impairment Loss of ₹751 Crore Recorded.
Rain Industries’ Revenue Slips 1.5% Sequentially to ₹4,100 Crore; Year-on-Year Topline Decline of 25% Driven by Carbon Business Challenges
- Carbon business hindered by delayed shipments and lower demand, impacting margins with overall volumes down 5.3% year-on-year.
- Advanced material business affected by seasonal factors; Cement business shows improvement in volumes.
- Current trading at ₹191, shares down 7%; 25% rise over the past 12 months; Largest single-day drop since June 2022″.