Triveni Turbine Ltd's Q3FY19 consolidated net profit rises 17.6% yoy to Rs23cr

The company’s consolidated revenue stood at Rs211cr, up 27.6% yoy but down 2.7% qoq

Feb 11, 2019 09:02 IST India Infoline Research Team

Triveni Turbine Ltd Q3FY19

Consolidated Results Q3FY19: (Rs. in cr)

Q3FY19 YoY (%)
Revenue 211 27.6
EBITDA 36 8.1
EBITDA Margin (%) 17 [307]
Net Profit (adjusted) 23 17.6
***EBITDA margin change is bps

Triveni Turbines Ltd reported steady revenue and earnings growth for Q3FY19, in spite of higher raw material costs. Revenue grew by 27.6% yoy to Rs211cr. EBITDA stood at Rs36cr, up 8.1% yoy. EBIDTA margins for the quarter fell by 307bps yoy to 17%. Net Profit stood at Rs23cr for Q3FY19, up 17.6% yoy.
  • The growth in the company’s revenue for 9MFY19 (up 18% yoy) came primarily from the exports segment which grew 36% yoy against the domestic segment which grew 5% yoy. The company’s aftermarket segment saw sharp growth of 23% yoy for 9MFY19, against an increase of 10% yoy for the product segment.
  • EBITDA margins contracted due to raw material costs rising by 47.7% yoy. This led to gross margins contracting by 778bps yoy in Q3FY19.
  • Growth in net profit was supported by the company reporting Rs122cr in profit from JVs. This profit was an improvement over a loss of Rs230cr in Q3FY18 and a loss of Rs24cr in Q2FY19.
  • The consolidated orderbook for the company (ex JV) stood at Rs753cr at the end of Q3FY19, an 8% rise yoy. The orderbook for the company’s JVs stand at Rs44cr.

Technical View:

Triveni Turbine Ltd ended at Rs. 99.80, down by 3.2 points or 3.11% from its previous closing of Rs. 103 on the BSE.
The scrip opened at Rs. 101.35 and touched a high and low of Rs. 101.35 and Rs. 98.10 respectively. A total of 36,750 (NSE+BSE) shares were traded on the counter. The stock traded above its 50 DMA.

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