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Westlife Development's consolidated net loss narrows yoy at Rs.6.34 crore

The company’s consolidated revenue stood at Rs. 212.62 crore, up 17.61% yoy and 0.8% qoq.

May 06, 2016 2:09 IST | India Infoline News Service
Retail arm of the Tata group, Westlife Development Ltd's consolidated net loss narrowed to Rs.6.34 crore for the quarter ended March 31, 2016 compared to Rs. 9.78 crore in the corresponding quarter of the previous year. However, the company had reported consolidated net profit of Rs. 0.23 crore in the preceding quarter. The company’s revenue stood at Rs. 212.62 crore, up 17.61% yoy and 0.8% qoq.

Its consolidated core operating profit of Rs. 11.26 crore for the quarter, clocked growth of 830.58% yoy but decline of 24.12% qoq. Operating profit margin for the current quarter at 5.3% expanded by 463 bps yoy but contracted by 174 bps qoq.

For the year ended March 31, 2016, the company reported consolidated net profit of Rs. 2.83 crore as compared to net loss of Rs. 29.11 crore in the corresponding period of the previous year. Its consolidated revenue for the period stood at Rs. 833.42 crore, registering growth of 9.04% yoy.

Westlife Development Ltd's core operating profit stood at Rs. 42.64 crore, recording growth of 181.08% yoy. Operating margin for the current period at 5.15% expanded by 317 bps yoy.

On standalone basis,Westlife Development Ltd's standalone net loss widened to Rs.0.30 crore for the quarter ended March 31, 2016 compared to Rs. 0.03 crore in the corresponding quarter of the previous year and Rs. 0.04 crore in the preceding quarter.

Its standalone core operating loss widened to Rs. 0.17 crore for the quarter compared to Rs. 0.07 crore in the same quarter of the previous year and Rs. 0.07 crore in the preceding quarter.

For the year ended March 31, 2016, the company's standalone net loss widened to Rs. 0.44crore from Rs. 0.13 crore in the corresponding period of the previous year. Its standalone revenue for the period stood at Rs. 0.31 crore, registering growth of 5.8% yoy.

Westlife Development Ltd’s core operating loss widened to Rs. 0.43 crore from Rs. 0.30 crore in the corresponding period of previous year.

Result Highlights: (Rs. in crore)

Reported Results IIFL Estimates Variance (%)
Consolidated Revenue 212.62 184.76 15.08
Consolidated Net Profit -6.34 -11.1 [42.88]

Consolidated EPS for the quarter stood at Rs. 0.44.

Bloomberg estimated the company’s consolidated net profit at Rs. 11.30 crore.

Stock Commentary:

Westlife Development Ltd ended at Rs. 202.3, down by 5 points or 2.41% from its previous closing of Rs. 207.3 on the BSE.

The scrip opened at Rs. 206 and touched a high and low of Rs. 226 and Rs. 190.1 respectively. A total of 88976(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 3146.81 crore.

The BSE group 'B' stock of face value Rs. 2 touched a 52 week high of Rs. 340 on 30-Jul-2015 and a 52 week low of Rs. 175 on 09-Mar-2016. Last one week high and low of the scrip stood at Rs. 226 and Rs. 190.1 respectively.

The promoters holding in the company stood at 62.18 % while Institutions and Non-Institutions held 28.61 % and 9.21 % respectively.

The stock traded below its 200 DMA.


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