Quarterly Results: Star Ferro & Cement Ltd
Shital Jibhe / 03 Nov 2016
Star Ferro & Cement Ltd., is currently trading at Rs. 107, down by 4 points or 3.6% from its earlier closing of Rs. 111 on the BSE.
Technical View:
Star Ferro & Cement Ltd., is currently trading at Rs. 107, down by 4 points or 3.6% from its earlier closing of Rs. 111 on the BSE.
The scrip touched a high and low of Rs. 112.35 and Rs. 106.5 respectively, after opening at 111.7. By far 33851 (NSE+BSE) shares in totality were traded on the counter; and the stock is currently trading above its 200 DMA.
Consolidated Results Q2FY17: (Rs. in crore)
***EBITDA margin change in bps
Bloomberg estimates were lower than Star Ferro & Cement’s Q2FY17 consolidated numbers for the quarter. The company's reported net revenue is largely in line as compared to the estimated figure of Rs 367 cr. However, net profit for the quarter stands at 916% higher than the estimate of Rs 7 cr.
Star Ferro's net revenue for the quarter has come in at Rs 366 cr, which was greater by 17.4% yoy.
Reported EBITDA has surged by 6.7% yoy to Rs 59 cr led by EBITDA margins declining by 163 bps yoy to 16.1%.
The company's net profit for the period stands at Rs 68 cr versus a net loss of 79 cr for the corresponding period of the previous year. This was anchored by a 5.5% yoy decline in finance costs and lesser tax expense.
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