Birla Corporation Ltd's Q2FY17 standalone net profit surges 152.17% yoy to Rs.58 crore : Estimates Mixed

India Infoline Research Team | November 22, 2016 15:43 IST

Birla Corporation Ltd Q2FY17

Standalone Results Q2FY17: (Rs. in crore)

Q2FY17 YoY (%)
Revenue 887 [4.4]
EDITDA 81 24.7
EBITDA Margin (%) 9.1 212
Net Profit (adjusted) 58 151.9
***EBITDA margin change is bps

Birla Corporation’s Q2FY17 standalone numbers came in mixed versus Bloomberg estimates. While net revenue for the period beat the estimated figure of Rs 808 cr by 9.7%, net profit for the quarter missed the estimate of Rs 64 cr by 9.2%.

Net revenue for the quarter fell 4.4% yoy to Rs 887 cr led by a 5.4% yoy decline in cement segment revenue.

However, the company showed a yoy improvement at the EBITDA and net profit level.

EBITDA rose 24.7% yoy to Rs 81 cr. This was primarily due to an 18.8% yoy decline in cost of materials consumed and 10.3% yoy decline in freight charges leading to a 212 bps EBITDA margin expansion to 9.1%.

And net profit jumped 151.9% yoy to Rs 58 cr aided by a tax credit of Rs 1 cr this quarter versus a Rs 9.15 cr tax expense in Q2FY17.

Technical View:

Birla Corporation Ltd is currently trading at Rs. 664.5, up by 5.2 points or 0.79% from its previous closing of Rs. 659.3 on the BSE.
The scrip opened at Rs. 680 and has touched a high and low of Rs. 682.45 and Rs. 653.7 respectively. So far 15892(NSE+BSE) shares were traded on the counter. The stock is currently trading above its 50 DMA.

BSE 1,088.05 [27.05] ([2.43]%)
NSE 1,089.15 [28.70] ([2.57]%)

***Note: This is a NSE Chart



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