Finolex Cables Ltd's Q3FY19 standalone net profit rises 1.43% yoy to Rs75.94cr : Misses Estimates

The company’s standalone revenue stood at Rs749.56cr, up 14.13% yoy and 4.98% qoq.

Feb 14, 2019 09:02 IST India Infoline Research Team

Finolex Cables Ltd Q3FY19

Standalone Results Q3FY19: (Rs. in cr)

Q3FY19 YoY (%)
Revenue 749.56 14.1
EBITDA 109.59 11.7
EBITDA Margin (%) 14.6 [31]
Net Profit (adjusted) 75.94 1.4
***EBITDA margin change is bps
Finolex Cables Limited’s Q3FY19 results were below consensus estimates for key performance parameters. Standalone revenues for the current quarter grew 14.1% yoy to Rs749.6cr, almost meeting the estimates. Operating profit increased by 11.7% yoy to Rs109.6cr vs. Rs98.1cr in Q3FY18, 3.2% below street estimates. EBITDA margin contracted by 31bps yoy to 14.6% for the quarter under consideration. Profit after taxes marginally  increased from Rs74.9cr in Q3FY18 to Rs75.9cr in Q3FY19, missed the estimates by 12.6%.

Technical View:

Finolex Cables Ltd is currently trading at Rs. 376, up by 2.6 points or 0.7% from its previous closing of Rs. 373.40 on the BSE.
The scrip opened at Rs. 372.15 and has touched a high and low of Rs. 379 and Rs. 371.65 respectively. So far 41,234 (NSE+BSE) shares were traded on the counter. The stock is currently trading above its 200 DMA.

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