Jain Irrigation Systems Ltd posted Q2FY17 consolidated net profit of Rs.28.05 crore : Beats Estimates

India Infoline Research Team | November 11, 2016 09:51 IST

Jain Irrigation Systems Ltd Q2FY17

Consolidated Results Q2FY17: (Rs. in crore)

Q2FY17 YoY (%)
Revenue 1,465 8.8
EDITDA 191 24.0
EBITDA Margin (%) 13 161
Net Profit (adjusted) 28.05 -
***EBITDA margin change is bps

Jain Irrigation Systems Ltd’s Q2FY17 consolidated numbers came in above Bloomberg estimates. Revenue was in line with the Bloomberg estimates of Rs 1468 cr.  Company’s EBITDA was 66.8% above the estimated figure of Rs 115 cr. Company’s net profit stood 122.6% above the estimates of Rs 13 cr.

Company’s net revenue stood at Rs 1464.6 cr which grew 8.8% during the corresponding quarter of previous year. This was led by 10.8% drop in cost of materials consumed.

EBITDA surged by 24% yoy to Rs 191 cr and EBITDA margins expanded 161 bps yoy to 13%.

Company posted a net profit of Rs 28.05 cr as against a net loss of Rs 5.42 cr during the corresponding quarter of previous year.


Technical View:

Jain Irrigation Systems Ltd is currently trading at Rs. 102.55, up by 3.05 points or 3.07% from its previous closing of Rs. 99.5 on the BSE.
The scrip opened at Rs. 100.9 and has touched a high and low of Rs. 103 and Rs. 100.05 respectively. So far 3761300(NSE+BSE) shares were traded on the counter. The stock is currently trading below its 50 DMA.

BSE 87.25 [0.70] ([0.80]%)
NSE 87.35 [0.85] ([0.96]%)

***Note: This is a NSE Chart

 

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