Timken India Ltd Q2FY17
Standalone Results Q2FY17: (Rs. in crore)
|EBITDA Margin (%)||16||317|
|Net Profit (adjusted)||29.86||41.1|
Timken India Ltd’s Q2FY17 standalone numbers beat Bloomberg estimates. Revenue for the period came in 2.6% above estimate of Rs 289 cr. Also, reported net profit for the period came in 14.4% above the estimate of Rs 26 cr.
Revenue for the quarter grew by 7.3% yoy to 296.75 cr.
EBITDA improved by 33.7% yoy to Rs 47.54 cr while EBITDA margins expanded 317 bps yoy to 16%. This was primarily due to ~26% decline in cost of material consumed and operational efficiencies.
Net profit jumped by 41.1% yoy to Rs 29.86 cr. Company saw its effective tax rate decline from 34% in Q2FY16 to 29% in Q2FY17 which helped bottom-line.
Timken India Ltd ended at Rs. 553.45, up by 13.55 points or 2.51% from its previous closing of Rs. 539.9 on the BSE.
The scrip opened at Rs. 539.85 and touched a high and low of Rs. 558.25 and Rs. 539.85 respectively. A total of 16170(NSE+BSE) shares were traded on the counter. The stock traded above its 100 DMA.
BSE 588.35 7.15 (1.23%)
NSE 591.65 11.90 (2.05%)
***Note: This is a NSE Chart