Birla Corporation's Q4FY16 standalone net profit stands at Rs.115.66 crore : Beats Estimates

The company’s standalone revenue stood at Rs. 866.60 crore, up 8.71% yoy and 7.38% qoq.

May 06, 2016 3:15 IST | India Infoline News Service
Birla Corporation, cement major, reported standalone net profit of Rs. 115.66 crore for the quarter ended March 31, 2016, registering growth of 306.39% yoy and 1660.43% qoq. The company’s revenue stood at Rs. 866.60 crore, up 8.71% yoy and 7.38% qoq.

Its standalone core operating profit of Rs. 107.78 crore for the quarter, clocked growth of 133.8% yoy and 87.05% qoq. Operating profit margin for the current quarter at 12.44% expanded by 666 bps yoy and 530 bps qoq.

For the year ended March 31, 2016, the company reported standalone net profit of Rs. 157.35 crore, declining by 10.31% yoy. Its standalone revenue for the period stood at Rs. 3,274.99 crore, registering growth of 2.03% yoy.

Birla Corporation Ltd's core operating profit stood at Rs. 285.28 crore, recording decline of 5.41% yoy. Operating margin for the current period at 9.49% expanded by 9 bps yoy.

Result Highlights: (Rs. in crore)

Reported Results IIFL Estimates Variance (%)
Standalone Revenue 866.60 825.3 5
Standalone Net Profit 115.66 34.7 233.31

Standalone EPS for the quarter stood at Rs. 15.02.

Bloomberg estimated the company’s standalone net profit at Rs. 52.23 crore.

Stock Commentary:

Birla Corporation  ended at Rs. 400.65, up by 23.85 points or 6.33% from its previous closing of Rs. 376.8 on the BSE.

The scrip opened at Rs. 373 and touched a high and low of Rs. 416.4 and Rs. 368.2 respectively. A total of 911310(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 3085.41 crore.

The BSE group 'B' stock of face value Rs. 10 touched a 52 week high of Rs. 543.5 on 17-Aug-2015 and a 52 week low of Rs. 322 on 26-Feb-2016. Last one week high and low of the scrip stood at Rs. 416.4 and Rs. 368.2 respectively.

The promoters holding in the company stood at 62.9 % while Institutions and Non-Institutions held 20.23 % and 16.87 % respectively.

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