Quarterly Results: AXISCADES Engineering Technologies
Bhagyashree Vivarekar / 15 Nov 2016
AXISCADES Engineering Technologies Ltd., is currently trading at Rs. 184, down by 16.1 points. The company's net profit has dropped by 53% yoy to Rs 3.4 cr owing to poor operational level performance.
Technical View:
AXISCADES Engineering Technologies Ltd., is currently trading at Rs. 184, down by 16.1 points or 8.05% from its earlier closing of Rs. 200.1 on the BSE.
The scrip has touched a high and low of Rs. 189.8 and Rs. 181.5 respectively, after opening at 189.8. Altogether 61632(NSE+BSE) shares have been traded on the counter so far; and the stock is currently trading above its 200 DMA.
Consolidated Results Q2FY17:
AXISCADES Engineering Technologies’ Q2FY17 consolidated net-revenue for the quarter has dropped 2.2% yoy to Rs 93.7 cr owing to negative developments related to a key customer.
EBITDA for the period has dropped by 42.8% yoy to Rs 8 cr led by a 603 bps yoy depletion in EBITDA margin to 8.5%, triggered by a 55% yoy surge in project consultancy charges and a 2% yoy rise in employee benefit expenses.
The company's net profit has dropped by 53% yoy to Rs 3.4 cr owing to poor operational level performance. The bottom-line was also constrained by effective tax rate rising to 43% this quarter versus 31% during the same quarter in the previous fiscal.
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