Quarterly Results: Rajratan Global Wire Ltd
Shital Jibhe / 03 Nov 2016
Rajratan Global Wire Ltd ended at Rs. 770, down by 46.5 points or 5.7% from its previous closing of Rs. 816.5 on the BSE.
Technical View:
Rajratan Global Wire Ltd ended at Rs. 770, down by 46.5 points or 5.7% from its previous closing of Rs. 816.5 on the BSE.
The scrip touched a high and low of Rs. 829 and Rs. 751.1 respectively after opening at 816. As of now 27361 (NSE+BSE) shares in totality were traded on the counter.; and the stock is trading below its 50 DMA.
Standalone Results Q2FY17: (Rs. in crore)
***EBITDA margin change is bps
Bloomberg estimates were higher than Rajratan Global Wires' reported Q2FY17 numbers. Revenue has come in 7.2% lesser than the estimated Rs 51 cr and net profit is 41% lesser than the estimate of Rs 3.4 cr.
The quarter's revenue has decreased 25.4% yoy to Rs 47 cr.
Rajratan Global has reported flat EBITDA at Rs 5.5 cr while EBITDA margins have increased by 301 bps yoy to 12%. This can be attributed to operational efficiency.
The company's net profit has marginally dropped by 6.5% yoy to Rs 2 cr majorly due to 40.5% yoy decrease in other income.