Ashoka Buildcon Ltd Q2FY17
Standalone Results Q2FY17: (Rs. in crore)
|EBITDA Margin (%)||15.8||226|
|Net Profit (adjusted)||45||44.9|
Ashoka Buildcon’s Q2FY17 standalone numbers came in after market hours.
Net revenue for the quarter fell by 5.3% yoy to Rs 443 cr. This was primarily driven by a 4% yoy decline in its major segment- construction & contract.
However, EBITDA for the period rose 10.6% yoy to Rs 70 cr with EBITDA margins expanding 226 bps yoy to 15.8%. The margin expansion was led by a 10.2% yoy drop in cost of materials consumed.
Also, net profit for the period rose by 44.9% yoy to Rs 45 cr. This was on the back of strong operational performance aided by a 26.1% yoy decline in finance costs. Effective tax rate dropping to 21.6% from 30.6% last year also aided in the strong bottom-line growth.
Ashoka Buildcon Ltd is currently trading at Rs. 143, down by 1.1 points or 0.76% from its previous closing of Rs. 144.1 on the BSE.
The scrip opened at Rs. 144.9 and has touched a high and low of Rs. 145 and Rs. 141 respectively. So far 52214(NSE+BSE) shares were traded on the counter. The stock is currently trading above its 50 DMA.
BSE 179.15 [4.50] ([2.45]%)
NSE 178.50 [4.90] ([2.67]%)
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