Ratnamani Metals & Tubes Ltd Q2FY17
Standalone Results Q2FY17: (Rs. in crore)
|EBITDA Margin (%)||15.5||233|
|Net Profit (adjusted)||29||[12.1]|
Ratnamani Metals & Tubes’ Q2FY17 standalone numbers came in mixed versus Bloomberg estimates. While net revenues and net profit came in below estimates, EBITDA came in marginally above the estimated figure. Net revenue came in 7.6% below the estimated figure of Rs 364 cr. EBITDA was 1.4% above the estimate of Rs 51 cr and net profit missed the estimate of Rs 32 cr by 11.3%.
Net-revenue for the quarter fell 23.8% yoy to Rs 336 cr due to a 24% yoy drop in the major steel tubes and pipes segment.
EBITDA for the quarter fell 11.1% yoy to Rs 52 cr with an EBITDA margin expansion of 221 bps to 15.4%. This was primarily due to an all-round reduction in operating costs which fell 26% yoy.
Also, net profit for the period fell 13.8% yoy to Rs 29 cr.
Ratnamani Metals & Tubes Ltd is currently trading at Rs. 562.75, down by 19.2 points or 3.3% from its previous closing of Rs. 581.95 on the BSE.
The scrip opened at Rs. 595 and has touched a high and low of Rs. 603 and Rs. 558.05 respectively. So far 59809(NSE+BSE) shares were traded on the counter. The stock is currently trading above its 50 DMA.
BSE 682.35 [5.35] ([0.78]%)
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