Sarda Energy & Minerals Ltd Q2FY17 Results: Falling revenues, rising profits
Bhagyashree Vivarekar / 18 Nov 2016
Sarda Energy & Minerals Ltd is currently trading at Rs 217.05, up by 6.6 points. The company's net profit for came in at Rs 13 crore.
Technical View:
Sarda Energy & Minerals Ltd is currently trading at Rs 217.05, up by 6.6 points or 3.14% from its previous close of Rs 210.45 on the BSE.
The scrip opened at Rs 213 and touched a high and low of Rs 223 and Rs 211, respectively. So far 146320 (NSE+BSE) shares were traded on the counter. The stock is currently trading above its 50 DMA.
Standalone Results Q2FY17:
Sarda Energy & Minerals’ Q2FY17 standalone net revenue for the quarter declined 2.7% YoY to Rs 254 crore. This was due to revenue decline in the ferro alloys and power segments which were down 9% and 22% YoY, respectively.
However, EBITDA for the period rose 3.4% YoY to Rs 30 crore with an EBITDA margin expansion of 69 bps. This was primarily due to the adjustment for changes in inventories of finished goods and work-in-progress by 57% YoY.
Also, the company's net profit for came in at Rs 13 crore, as against Rs 4 crore during Q2FY16. This was due to other income rising 128% YoY, finance cost falling 25% YoY and effective tax rate falling from 46% to 37% YoY.
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