Tourism Finance Corporation of India Ltd Q2FY17 Results: Dip in Revenue and EBITDA
Bhagyashree Vivarekar / 10 Nov 2016
Tourism Finance Corporation of India Ltd is currently trading at Rs 59.95, up by 0.95 points or 1.61% from its previous closing of Rs 59 on the BSE.Net profit declined 10.8% YoY to Rs 16.36 crore.
Technical View:
Tourism Finance Corporation of India Ltd is currently trading at Rs 59.95, up by 0.95 points or 1.61% from its previous closing of Rs 59 on the BSE. The scrip opened at Rs 61 and touched a high and low of Rs 62 and Rs 59.7, respectively. A total of 976275 (NSE+BSE) shares were traded on the counter. The stock is currently trading below its 50 DMA.
Standalone Results:
Tourism Finance Corporation of India Ltd reported its standalone Q2FY17 results. Revenue for the quarter dipped 4.7% YoY to Rs 50.31 crore.
EBITDA declined 86.4% YoY to Rs 3.26 crore led by contraction in the EBITDA margin of 3913 bps to 6.5% YoY. The decline was mainly on account of provisions for bad debts and write-off on investments of Rs 20 crore.
Net profit declined 10.8% YoY to Rs 16.36 crore. The bottomline is after considering impact of sale of office premises for Rs 23.36 crore.
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