Sarda Energy & Minerals Ltd's Q2FY17 standalone net profit rises 250.28% yoy to Rs.12.54 crore

India Infoline Research Team | November 18, 2016 17:01 IST

Sarda Energy & Minerals Ltd Q2FY17

Standalone Results Q2FY17: (Rs. in crore)

Q2FY17 YoY (%)
Revenue 253.96 [2.7]
EDITDA 29.55 3.4
EBITDA Margin (%) 11.6 69
Net Profit (adjusted) 12.54 250.3
***EBITDA margin change is bps

Sarda Energy & Minerals’ Q2FY17 standalone net revenue for the quarter declined 2.7% yoy to Rs 254 cr. This was due to revenue decline in the Ferro Alloys and Power segments which were down 9% and 22% yoy, respectively.

However, EBITDA for the period rose 3.4% yoy to Rs 30 cr with an EBITDA margin expansion of 69 bps. This was primarily due to the adjustment for changes in inventories of finished goods, work-in-progress & work-in-progress by 57% yoy.

Also, net profit for came in at Rs 13 cr versus Rs 4 cr during 2QFY16. This was due to other income rising by 128% yoy, finance cost falling 25% yoy and effective tax rate falling from 46% to 37% yoy.

Technical View:

Sarda Energy & Minerals Ltd is currently trading at Rs. 217.05, up by 6.6 points or 3.14% from its previous closing of Rs. 210.45 on the BSE.
The scrip opened at Rs. 213 and has touched a high and low of Rs. 223 and Rs. 211 respectively. So far 146320(NSE+BSE) shares were traded on the counter. The stock is currently trading above its 50 DMA.

BSE 453.40 [3.60] ([0.79]%)
NSE 455.85 [0.40] ([0.09]%)

***Note: This is a NSE Chart



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