Quarterly Results : Dhanuka Agritech Ltd
Bhagyashree Vivarekar / 10 Nov 2016
Dhanuka Agritech Ltd is currently trading at Rs 716.6, up by 40.5 points or 5.99% from its previous closing of Rs. 676.1 on the BSE.Dhanuka's net profit increased 30.5% YoY to Rs 49.21 crore.
Technical View:
Dhanuka Agritech Ltd is currently trading at Rs 716.6, up by 40.5 points or 5.99% from its previous closing of Rs. 676.1 on the BSE.
The scrip opened at Rs. 695 and touched a high and low of Rs 725 and Rs 692 respectively. The stock is currently trading below its 50 DMA.
Standalone Results Q2FY17:
Dhanuka Agritech Ltd’s Q2FY17 standalone numbers were a mixed bag, as against Bloomberg estimates. While revenue for the period came in 2.2% below the estimate of Rs 317 crore. However, the reported net profit for the period was 10.3% above the estimate of Rs 45 crore.
The company's revenue for the quarter grew 14.8% YoY to 310.22 crore, while EBITDA increased 30.7% YoY to Rs 70.76 crore, led by EBITDA margins expansion of 279 bps YoY to 22.8%. This was primarily driven by operational efficiencies.
Dhanuka's net profit increased 30.5% YoY to Rs 49.21 crore. Also, its other income saw a jump of 224% YoY, adding to bottomline.
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