Agro Tech Foods Ltd's Q2FY17 standalone net profit rises 41.33% yoy to Rs.7 crore

India Infoline Research Team | October 19, 2016 18:15 IST

Agro Tech Foods Ltd Q2FY17

Standalone Results Q2FY17: (Rs. in crore)

Q2FY17 YoY (%)
Revenue 201 0.5
EDITDA 15 13
EBITDA Margin (%) 7.3 80
Net Profit (adjusted) 7 41
***EBITDA margin change is bps

Agrotech Foods Ltd (ATFL) posted static revenue growth of 0.50% yoy in 2QFY17 and a surge of 41% in net profit due to an exceptional item: Tepid Earnings

ATFL reported a stagnant revenue growth to Rs 201 Cr due to tepid growth in its popcorn segment. The 0.50% yoy was induced by 20% growth in other operating income.

EBITDA grew 13% yoy to Rs 15 Cr due to lower add expenditure. This led to a margin expansion of 80 bps yoy.

Net profit grew 41% yoy to Rs 7 Cr. However, this was due to an exceptional item of Rs 4.21 Cr relating to interest on income tax of assessment year 1997-98. Excluding the exceptional item, the net profit grew 12% yoy.

Technical View:

Agro Tech Foods Ltd is currently trading at Rs. 518.3, up by 13.35 points or 2.64% from its previous closing of Rs. 504.95 on the BSE.
The scrip opened at Rs. 510.7 and has touched a high and low of Rs. 526.8 and Rs. 510.7 respectively. So far 7718(NSE+BSE) shares were traded on the counter. The stock is currently trading below its 50 DMA.

BSE 727.80 67.50 (10.22%)
NSE 725.80 61.25 (9.22%)

***Note: This is a NSE Chart



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