Jamna Auto Industries Ltd's Q1FY19 consolidated net profit rises 130% yoy to Rs40cr : Beats Estimates

The company’s consolidated revenue stood at Rs562cr, up 107% yoy but down 6% qoq.

Aug 08, 2018 09:08 IST India Infoline Research Team

Jamna Auto Industries Ltd Q1FY19

Consolidated Results Q1FY19: (Rs. in cr)

Q1FY19 YoY (%)
Revenue 562.19 107.2
EBITDA 75.27 146.6
EBITDA Margin (%) 13.4 214
Net Profit (adjusted) 40.01 129.9
***EBITDA margin change is bps

Jamna Auto Industries Limited (JAI) reported a very strong set of numbers for Q1FY19. Numbers surpassed expectations on all three counts i.e. revenue, EBITDA and PAT. Consolidated revenue more than doubled yoy (down 6% qoq) to Rs562cr, well above consensus estimate of Rs466cr. While higher raw material expenses put pressure on gross margins, the company was able to rein in operating costs leading to 147% yoy growth (16% qoq decline) in EBITDA to Rs75cr. EBITDA margin expanded 214bps yoy (contraction of 160bps qoq) to 13.4%. Consequently, EBITDA and EBITDA margin beat consensus expectation of Rs62cr and 13.2% respectively. Consolidated reported PAT was 130% yoy higher (14% qoq lower) at Rs40cr, beating consensus estimate of Rs32cr.

Technical View:

Jamna Auto Industries Ltd is currently trading at Rs. 87.95, up by 1.9 points or 2.21% from its previous closing of Rs. 86.05 on the BSE.
The scrip opened at Rs. 87.30 and has touched a high and low of Rs. 91.90 and Rs. 87.10 respectively. So far 75,72,677 (NSE+BSE) shares were traded on the counter. The stock is currently trading below its 100 DMA.

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