NRB Bearings Ltd's Q2FY17 standalone net profit rises 4.34% yoy to Rs.16.36 crore : Misses Estimates

India Infoline Research Team | November 15, 2016 11:22 IST

NRB Bearings Ltd Q2FY17

Standalone Results Q2FY17: (Rs. in crore)

Q2FY17 YoY (%)
Revenue 180 7.1
EDITDA 28.30 [8.1]
EBITDA Margin (%) 15.7 [261]
Net Profit (adjusted) 16.36 4.3
***EBITDA margin change is bps

NRB Bearings Ltd’s Q2FY17 standalone numbers came in below Bloomberg estimates. Revenue was 3.1% down from Bloomberg estimates of Rs 185.4 cr. Company’s net profit stood 3.2% below the estimates of Rs 16.9 cr.

Company’s net revenue increased 7.1% yoy to Rs 180 cr.

However, EBITDA dropped by 8.1% yoy to Rs 28.3 cr and EBITDA margins contracted 261 bps yoy to 15.7%. This was due to 10.5% yoy increase in cost of goods sold.  

Company's net profit rose 4.3% yoy to Rs 16.36 cr. Company's other income rose from Rs 2.58 cr in Q2FY16 to Rs 5.77 cr in the current quarter.

Technical View:

NRB Bearings Ltd is currently trading at Rs. 114.5, down by 4.7 points or 3.94% from its previous closing of Rs. 119.2 on the BSE.
The scrip opened at Rs. 116 and has touched a high and low of Rs. 118.45 and Rs. 113 respectively. So far 6974(NSE+BSE) shares were traded on the counter. The stock is currently trading above its 50 DMA.

BSE 121.00 [1.65] ([1.35]%)
NSE 120.85 [1.25] ([1.02]%)

***Note: This is a NSE Chart



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