Nitin Fire net profit likely to drop in March quarter

Nitin Fire, a leading fire protection firm in the country, will announce its financial results for the fourth quarter ended March 31, 2016 on May 30.

May 30, 2016 10:05 IST India Infoline News Service

Nitin Fire, a leading fire protection firm in the country, will announce its financial results for the fourth quarter ended March 31, 2016 on May 30.

As per IIFL’s forecast, the company is expected to register a net revenue of Rs.295 crore, growing at 26.1% yoy but declining at 24% on qoq basis.

Operating profit margin of the company is likely to be at 11%, a growth of 186 bps yoy and 18 bps qoq.

IIFL estimates the company’s net profit to be at Rs.20 crore, which constitutes a rise of 192.8% yoy and drop of 26.5% qoq.

Key quarterly results on May 30 include APL Apollo Tubes, Atul Auto, Aurobindo Pharma, Bajaj Electricals, BATA India, Berger Paints, Blue Star, Cigniti Technologies, Fiem Industries, Reliance Communications, Tata Motors, NTPC, IPCA, Mahindra & Mahindra, among others.

IIFL preview coverage universe of 374 companies, representing ~75% of India’s equity market cap is expected to report 4.2% yoy drop in net profit in Q4 FY16. On a qoq basis, profits will rise by 17% on account of low base of preceding two quarters, which had witnessed sequential PAT declines.

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