Vardhman Textiles Ltd's Q2FY17 consolidated net profit rises 231.35% yoy to Rs.454.01 crore : Beats Estimates

India Infoline Research Team | November 15, 2016 16:45 IST

Vardhman Textiles Ltd Q2FY17

Consolidated Results Q2FY17: (Rs. in crore)

Q2FY17 YoY (%)
Revenue 1,564.42 5.9
EDITDA 378.65 24.9
EBITDA Margin (%) 24.2 369
Net Profit (adjusted) 454 231.4
***EBITDA margin change is bps


Vardhman Textile Ltd reported its Q2FY17 numbers above Bloomberg estimates. Revenue was reported 29.1% above estimate of Rs 1212 cr while EBITDA was reported 48% above estimate of 256 cr. Net profit was reported 235% higher than the estimated figure of Rs 136 cr.
Revenue for the quarter increased marginally by 5.9% yoy to Rs 1564 cr.
Reported EBITDA increased by 24.9% yoy to Rs 379 cr while EBITDA margins expanded by 369 bps to 24.2%. This was primarily due to operational efficiency.
Net profit surged by 231.4% yoy to Rs 454 cr largely due to effect of scale.

Technical View:

Vardhman Textiles Ltd is currently trading at Rs. 1062.8, down by 13.95 points or 1.3% from its previous closing of Rs. 1076.75 on the BSE.
The scrip opened at Rs. 1125.5 and has touched a high and low of Rs. 1125.5 and Rs. 1040 respectively. So far 548612(NSE+BSE) shares were traded on the counter. The stock is currently trading below its 50 DMA.

BSE 1,107.80 4.25 (0.39%)
NSE 1,107.50 3.65 (0.33%)

***Note: This is a NSE Chart

 

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