Quarterly Result: NRB Bearings Ltd
Bhagyashree Vivarekar / 15 Nov 2016
NRB Bearings Ltd., is currently trading at Rs. 114.5, down by 4.7 points or 3.94% from its earlier closing of Rs. 119.2 on the BSE. Net profit has surged 4.3% yoy to Rs 16.36 cr.
Technical View:
NRB Bearings Ltd., is currently trading at Rs. 114.5, down by 4.7 points or 3.94% from its earlier closing of Rs. 119.2 on the BSE.
The scrip has touched a high and low of Rs. 118.45 and Rs. 113 respectively, after opening at 116. Altogether 6974(NSE+BSE) shares have been traded on the counter; and the stock is currently trading above its 50 DMA.
Standalone Results Q2FY17:
Bloomberg estimates were higher than NRB Bearings Ltd’s actual Q2FY17 standalone numbers. Revenue is 3.1% lower than Bloomberg's estimate of Rs 185.4 cr. Net profit stands 3.2% lesser than the estimates of Rs 16.9 cr.
NRB's net revenue has surged 7.1% yoy to Rs 180 cr.
EBITDA has dipped by 8.1% yoy to Rs 28.3 cr and EBITDA margins have shrunken 261 bps yoy to 15.7%, triggered by 10.5% yoy increase in cost of goods sold.
Net profit has surged 4.3% yoy to Rs 16.36 cr. Other income has jumped from Rs 2.58 cr in Q2FY16 to Rs 5.77 cr in the current quarter.
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