Ruchi Soya is quite on a volatile run. Yesterday, it had touched the 5% UC at Rs.728.70 and today, it’s a complete turnaround – it touched the 5% LC at Rs.683.90. It has recouped a bit but remains in the red, down 3.5% at Rs.694 levels.
This Patanjali group company, for Q1Fy21 reported a 13% (YoY) decline in net profit at Rs.12 crore on a 2% drop in total income at Rs.3057 crore.
This fall in profit apart, the market is also perturbed with the news of Acharya Balkrishna resigning as Managing Director (MD) of Ruchi Soya though he will continue as Chairman. Ram Bharat who is the brother of Swami Ramdev, often called "Baba Ramdev" is now the MD.