AXISCADES Engineering Technologies's Q2FY17 consolidated net profit declines 53% yoy to Rs.3.40 crore

India Infoline Research Team | November 15, 2016 09:57 IST

AXISCADES Engineering Technologies Q2FY17

Consolidated Results Q2FY17: (Rs. in crore)

Q2FY17 YoY (%)
Revenue 94 [2.1]
EDITDA 8 [42.8]
EBITDA Margin (%) 8.5 [603]
Net Profit (adjusted) 3.40 [53.0]
***EBITDA margin change is bps

AXISCADES Engineering Technologies’ Q2FY17 consolidated net-revenue for the quarter fell 2.2% yoy to Rs 93.7 cr due to negative developments in a key customer.

EBITDA for the period fell by 42.8% yoy to Rs 8 cr led by a 603 bps yoy contraction in EBITDA margin to 8.5%. This was primarily the impact of a 55% yoy increase in project consultancy charges and a 2% yoy increase in employee benefit expenses.

And net profit declined by 53% yoy to Rs 3.4 cr on the back of the poor operational level performance. The bottom-line was also constrained by effective tax rate increasing to 43% this quarter versus 31% during the corresponding quarter last fiscal.


Technical View:

AXISCADES Engineering Technologies Ltd is currently trading at Rs. 184, down by 16.1 points or 8.05% from its previous closing of Rs. 200.1 on the BSE.
The scrip opened at Rs. 189.8 and has touched a high and low of Rs. 189.8 and Rs. 181.5 respectively. So far 61632(NSE+BSE) shares were traded on the counter. The stock is currently trading above its 200 DMA.

BSE 194.10 16.25 (9.14%)
NSE 193.95 15.90 (8.93%)

***Note: This is a NSE Chart

 

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