Engineers India Ltd's Q2FY19 standalone net profit declines 18% yoy to Rs97.77cr : In-line with Estimates

The company’s standalone revenue stood at Rs681.41cr, up 58.8% yoy.

Nov 15, 2018 03:11 IST India Infoline Research Team

Engineers India Ltd Q2FY19

Standalone Results Q2FY19: (Rs. in cr)

Q2FY19 YoY (%)
Revenue 681.41 58.8
EBITDA 91.48 [34.2]
EBITDA Margin (%) 13.4 [1,895]
Net Profit  97.77 [18.0]
***EBITDA margin change is bps

Engineers India Ltd reported Q2FY19 results in-line with the estimates. Revenue grew by 58.8% yoy to Rs681.4cr against Rs429.09cr in Q2FY18, beating the estimate of Rs556cr. EBITDA for the quarter declined by 34.2% yoy to Rs91.48cr against Rs139cr in Q2FY18. EBITDA margin declined by 1,895bps yoy to 13.4%. Net profit for the quarter declined by 18% yoy to Rs97.77cr against Rs119.2cr in corresponding quarter last year, in-line with the estimate of Rs95cr.

• Consultancy and engineering projects revenue declined by 0.2% yoy to Rs332.39cr in Q2FY19 against Rs333.03cr in Q2FY18.
• Turnkey projects revenue grew by 263.3% yoy to Rs349.02cr in Q2FY19 against Rs96.06cr.

Technical View:

Engineers India Ltd ended at Rs. 116.85, down by 4.15 points or 3.43% from its previous closing of Rs. 121 on the BSE.
The scrip opened at Rs. 122.70 and touched a high and low of Rs. 123 and Rs. 115.85 respectively. A total of 3,08,692 (NSE+BSE) shares were traded on the counter. The stock traded above its 200 DMA.

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