Minda Industries Q2FY17 Results: Good going
Bhagyashree Vivarekar / 10 Nov 2016
Minda Industries Ltd is currently trading at Rs 369.4, up by 6.9 points or 1.9% from its previous closing of Rs 362.5 on the BSE. The company reported a net profit of Rs 38.42 crore, higher by 47.8% YoY.
Technical View:
Minda Industries Ltd is currently trading at Rs 369.4, up by 6.9 points or 1.9% from its previous closing of Rs 362.5 on the BSE.
The scrip opened at Rs 367 and has touched a high and low of Rs. 385 and Rs 367, respectively. The stock is currently trading below its 50 DMA.
Consolidated Results Q2FY17:
Minda Industries posted its consolidated Q2FY17 results. Net revenue for the quarter rose 39% to Rs 905.85 crore during the corresponding quarter of previous year.
The company's EBITDA rose 47.6% YoY to Rs 93.2 crore with EBITDA margin expansion of just 60 bps to 10.3%. The company reported a net profit of Rs 38.42 crore, higher by 47.8% YoY.
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