Quarterly Results: IRB Infrastructure Developers Ltd.
Bhagyashree Vivarekar / 22 Nov 2016
IRB Infrastructure Developers Ltd is currently trading at Rs 190.80, up by 1.45 points or 0.77% from its previous close of Rs 189.35 on the BSE. However, the company's net profit decreased 5% YoY to Rs 142.18 crore.
Technical View:
IRB Infrastructure Developers Ltd is currently trading at Rs 190.80, up by 1.45 points or 0.77% from its previous close of Rs 189.35 on the BSE. The scrip opened at Rs 192 and touched a high and low of Rs 194.15 and Rs 189.45, respectively. A total of 10,18,668 (NSE+BSE) shares were traded on the counter. The stock is currently trading above its 50 DMA.
Consolidated Results Q2FY17:
IRB Infrastructure Developers Ltd.’s consolidated Q2FY17 results were below Bloomberg estimates. The company's revenue was 8.9% lower than the estimate of Rs 1416 crore. Its EBITDA was 17.1% lower than the estimated Rs 856 crore, while its.net profit was 47.7% lower than the estimated Rs 272 crore.
However, the company's revenue for the quarter increased 12.3% YoY to Rs 1291 crore, led by 19% & 7% YoY growth in BOT projects and construction segments, respectively.
Its EBITDA increased 17.2% YoY to Rs 709 crore, led by 228 bps YoY expansion in EBITDA margins at 54.9%. This was primarily driven by 40% YoY decline in cost of material consumed.
However, the company's net profit decreased 5% YoY to Rs 142.18 crore as a result of.42% YoY jump in finance cost.
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