Brigade Enterprises Ltd’s (BEL) revenue for Q4FY18 from operations declined by 21.7% yoy to Rs433.54cr as against Rs553.74cr in Q4FY17, missing the consensus estimates of Rs529.9cr. The company’s EBITDA margin has contracted by 470bps yoy to 31.1% as against 35.8%. The EBITDA fell by 32% yoy to Rs134.78cr as against Rs198.17cr, falling short of the the consensus estimate of Rs186.1cr. The company’s reported PAT after tax, minority interest and share of associates dropped 75.6% yoy to Rs18.05cr. In the quarter, BEL incurred a one-time expense of Rs11.54cr towards stamp duty related to transferring its hospitality and other allied businesses to its wholly owned subsidiaries. Adjusting for the exceptional item , the consolidated PAT for the quarter stood at Rs27.3cr, which was sharply below consensus estimates of Rs59.5cr.
Brigade Enterprises Ltd is currently trading at Rs. 259.45, down by 2.35 points or 0.9% from its previous closing of Rs. 261.80 on the BSE.
The scrip opened at Rs. 257.50 and has touched a high and low of Rs. 265.90 and Rs. 255 respectively. So far 29,375 (NSE+BSE) shares were traded on the counter. The stock is currently trading above its 200 DMA.
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