IRB Infrastructure Developers Ltd's Q2FY17 consolidated net profit declines 5% yoy to Rs.142.18 crore : Misses Estimates

India Infoline Research Team | November 22, 2016 15:04 IST

IRB Infrastructure Developers Ltd Q2FY17

Consolidated Results Q2FY17: (Rs. in crore)

Q2FY17 YoY (%)
Revenue 1,291 12.3
EBITDA 709 17.2
EBITDA Margin (%) 54.9 228
Net Profit (adjusted) 142.18 [5]
***EBITDA margin change is bps


IRB Infrastructure Developers Ltd.’s consolidated Q2FY17 result came in below Bloomberg estimates. Revenue came in 8.9% lower than the estimate of Rs 1416 cr. EBITDA stood 17.1% lower than the estimate of Rs 856 cr. Also, net profit was 47.7% lower than the estimated figure of Rs 272 cr.

Revenue for the quarter increased 12.3% yoy to Rs 1291 cr. This was led by 19% & 7% yoy growth in BOT projects segment and construction segment respectively.

EBITDA increased by 17.2% yoy to Rs 709 cr led by 228 bps yoy expansion in EBITDA margins at 54.9%. This was primarily driven by 40% yoy decline in cost of material consumed.

However, net profit was decreased by 5% yoy to Rs 142.18 cr. This was led by 42% yoy jump in finance cost.

Technical View:

IRB Infrastructure Developers Ltd is currently trading at Rs. 190.8, up by 1.45 points or 0.77% from its previous closing of Rs. 189.35 on the BSE.
The scrip opened at Rs. 192 and has touched a high and low of Rs. 194.15 and Rs. 189.45 respectively. So far 1018668(NSE+BSE) shares were traded on the counter. The stock is currently trading above its 50 DMA.

BSE 189.15 [0.95] ([0.50]%)
NSE 189.10 [0.80] ([0.42]%)

***Note: This is a NSE Chart

 

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