Elgi Equipments Ltd's Q2FY17 consolidated net profit rises 235.5% yoy to Rs.18.05 crore : Misses Estimates

India Infoline Research Team | November 15, 2016 19:07 IST

Elgi Equipments Ltd Q2FY17

Consolidated Results Q2FY17: (Rs. in crore)

Q2FY17 YoY (%)
Revenue 341.61 1.4
EDITDA 34.31 44.0
EBITDA Margin (%) 10 296
Net Profit (adjusted) 18.05 235.5
***EBITDA margin change is bps


ELGI Equipments Ltd reported its Q2FY17 numbers below Bloomberg estimates. Revenue was reported 8.4% below estimate of Rs 373 cr, while net profit was reported 3% lower than the estimated figure of Rs 19 cr.
Revenue for the quarter increased marginally by 1.4% yoy to Rs 342 cr.
The EBITDA increased by 44% yoy to Rs 34 cr while EBITDA margin expanded by 296 bps yoy to 10% this was largely due to 17% yoy decrease in other expenses and flat employee benefits expense.
Net profit increased by 235.5% yoy to Rs 18 cr primarily due to 25.7% yoy increase in other income and 266.4% yoy decrease in finance cost.

Technical View:

Elgi Equipments Ltd is currently trading at Rs. 177, down by 10.85 points or 5.78% from its previous closing of Rs. 187.85 on the BSE.
The scrip opened at Rs. 186.75 and has touched a high and low of Rs. 200 and Rs. 177 respectively. So far 24686(NSE+BSE) shares were traded on the counter. The stock is currently trading above its 50 DMA.

BSE 175.10 [5] ([2.78]%)
NSE 177.35 [3.40] ([1.88]%)

***Note: This is a NSE Chart

 

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