Birla Corporation Ltd Q2FY17
Standalone Results Q2FY17: (Rs. in crore)
|EBITDA Margin (%)||9.1||212|
|Net Profit (adjusted)||58||151.9|
Birla Corporation’s Q2FY17 standalone numbers came in mixed versus Bloomberg estimates. While net revenue for the period beat the estimated figure of Rs 808 cr by 9.7%, net profit for the quarter missed the estimate of Rs 64 cr by 9.2%.
Net revenue for the quarter fell 4.4% yoy to Rs 887 cr led by a 5.4% yoy decline in cement segment revenue.
However, the company showed a yoy improvement at the EBITDA and net profit level.
EBITDA rose 24.7% yoy to Rs 81 cr. This was primarily due to an 18.8% yoy decline in cost of materials consumed and 10.3% yoy decline in freight charges leading to a 212 bps EBITDA margin expansion to 9.1%.
And net profit jumped 151.9% yoy to Rs 58 cr aided by a tax credit of Rs 1 cr this quarter versus a Rs 9.15 cr tax expense in Q2FY17.
Birla Corporation Ltd is currently trading at Rs. 664.5, up by 5.2 points or 0.79% from its previous closing of Rs. 659.3 on the BSE.
The scrip opened at Rs. 680 and has touched a high and low of Rs. 682.45 and Rs. 653.7 respectively. So far 15892(NSE+BSE) shares were traded on the counter. The stock is currently trading above its 50 DMA.
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