Ashoka Buildcon Ltd's Q2FY17 standalone net profit rises 44.9% yoy to Rs.45 crore

India Infoline Research Team | December 02, 2016 17:47 IST

Ashoka Buildcon Ltd Q2FY17

Standalone Results Q2FY17: (Rs. in crore)

Q2FY17 YoY (%)
Revenue 443 [5.3]
EDITDA 70 10.6
EBITDA Margin (%) 15.8 226
Net Profit (adjusted) 45 44.9
***EBITDA margin change is bps

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.


Technical View:

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 142.20 [1.90] ([1.32]%)
NSE 142.55 [0.70] ([0.49]%)

***Note: This is a NSE Chart

 

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