Quarterly Result: Reliance Infrastructure Ltd
Bhagyashree Vivarekar / 15 Nov 2016
Reliance Infrastructure Ltd., ended at Rs. 495.4, down by 13.35 points or 2.62% from its earlier closing of Rs. 508.75 on the BSE. The company's net profit has surged by 33.8% yoy to Rs 571 cr primarily owing to 23% yoy rise in other income.
Technical View:
Reliance Infrastructure Ltd., ended at Rs. 495.4, down by 13.35 points or 2.62% from its earlier closing of Rs. 508.75 on the BSE.
The scrip touched a high and low of Rs. 502 and Rs. 485.6 respectively, after opening at 498. Altogether 1446057(NSE+BSE) shares have been traded on the counter; and the stock is trading above its 50 DMA.
Consolidated Results Q2FY17:
Reliance Infrastructure Ltd’s Q2FY17 numbers have come in mixed as compared to street estimates. Revenue has come in 34.9% above the estimate of Rs 5168 cr. EBITDA margin is lower by 403 bps from the estimate of 23% and net profit is 7.4% above the estimated figure of Rs 531 cr.
The quarter's revenue has dipped marginally by 7.8% yoy to Rs 6973 cr.
Reliance Infra's reported EBITDA has eroded 23.3% yoy to Rs 1323 cr while EBITDA margins have shrunken 384 bps yoy to 19%, triggered by 8.2% yoy increase in employee benefits cost.
The company's net profit has surged by 33.8% yoy to Rs 571 cr primarily owing to 23% yoy rise in other income.
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