Quarterly Result: Liberty Shoes Ltd.
Bhagyashree Vivarekar / 11 Nov 2016
Liberty Shoes Ltd., is currently trading at Rs. 151.25, down by 2.1 points or 1.37% from its earier closing of Rs. 153.35 on the BSE. The company's net profit for the year tumbled by 3.9% yoy to Rs 1.72 cr triggered by a 3% yoy soaring of finance costs.
Technical View:
Liberty Shoes Ltd., is currently trading at Rs. 151.25, down by 2.1 points or 1.37% from its earier closing of Rs. 153.35 on the BSE.
The scrip has touched a high and low of Rs. 153 and Rs. 149 respectively, after opening at 152.95. By far 10099(NSE+BSE) shares were traded on the counter; and the stock is currently trading above its 200 DMA.
Standalone Results Q2FY17:
Liberty Shoes’ Q2FY17 standalone net revenue for the quarter has surged 4.3% yoy to Rs 108 cr. This can be attributed to strong growth in export revenues ( export sales of 12.9 cr this quarter versus 6 cr during Q2FY16) offsetting the 2% yoy drop in domestic revenues.
Liberty's EBITDA for the period has dropped 0.9% yoy to Rs 9 cr and EBITDA margins have contracted by 45 bps yoy to 8.6%. This was the repercussion of 5% yoy surge in operating expenses with cost of materials consumed rising by 23% yoy.
The company's net profit for the year tumbled by 3.9% yoy to Rs 1.72 cr triggered by a 3% yoy soaring of finance costs.
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