Welspun India Ltd Q2FY17
Consolidated Results Q2FY17: (Rs. in crore)
|EBITDA Margin (%)||24.1|||
|Net Profit (adjusted)||205||14.5|
Welspun India Ltd’s Q2FY17 consolidated numbers came in above Bloomberg estimates. Revenue was 9.4% above estimates of Rs 1636 cr. Company’s EBITDA was 25.3% more than the estimated figure of Rs 345 cr. Company’s net profit too stood 4.9% above the estimates of Rs 196 cr.
Company’s net revenue stood at Rs 1790 cr which grew 21.8% during the corresponding quarter of previous year. Company’s Home Textile segment revenue rose 21.4%. The double-digit growth in revenue was driven by volume growth in towels and rugs.
EBITDA soared by 12.8% yoy to Rs 432 cr with contraction in EBITDA margins by 194 bps yoy to 24.1%. This was on account of higher cotton and energy costs.
Company's adjusted net profit rose 14.5% yoy to Rs 205 cr. This was driven by 37.9% drop in finance costs.
Welspun India Ltd is currently trading at Rs. 60.75, down by 4.2 points or 6.47% from its previous closing of Rs. 64.95 on the BSE.
The scrip opened at Rs. 64.95 and has touched a high and low of Rs. 64.95 and Rs. 58.8 respectively. So far 3320828(NSE+BSE) shares were traded on the counter. The stock is currently trading below its 200 DMA.
BSE 93.85 [0.75] ([0.79]%)
NSE 93.65 [0.80] ([0.85]%)
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