Quarterly Result: Reliance Defence & Engineering Ltd
Bhagyashree Vivarekar / 10 Nov 2016
Reliance Defence & Engineering Ltd is currently trading at Rs 56.6, up by 1.75 points or 3.19% from its previous close of Rs 54.85 on the BSE. The company witnessed a recovery in net loss to Rs 116.29 crore in the current quarter, from net loss of Rs 170.49 crore during Q2FY16.
Technical View:
Reliance Defence & Engineering Ltd is currently trading at Rs 56.6, up by 1.75 points or 3.19% from its previous close of Rs 54.85 on the BSE.
The scrip opened at Rs 55.8 and touched a high and low of Rs 58.65 and Rs 55.80, respectively. A total of 983719 (NSE+BSE) shares were traded on the counter. The stock is currently trading above its 200 DMA.
Standalone Results Q2FY17:
Reliance Defence and Engineering Ltd., formerly known as Pipavav Defence and Offshore Engineering Company, posted its standalone Q2FY17 results.
The company's net revenue for the quarter surged sharply by 73.9% YoY to Rs 98.65 crore.
Moreover, the company posted EBITDA of Rs 11 crore as against an EBITDA loss of Rs 8 crore during the corresponding quarter of previous year. EBITDA margin grew 11.6% YoY as against a decline of 13.5% earlier.
The company witnessed a recovery in net loss to Rs 116.29 crore in the current quarter, from net loss of Rs 170.49 crore during Q2FY16.
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