Quarterly Results: Ratnamani Metals & Tubes Ltd
Bhagyashree Vivarekar / 30 Nov 2016
Ratnamani Metals & Tubes Ltd., is closed at Rs. 562.75, down by 19.2 points. Net profit for the period fell 13.8% YoY to Rs 29 crore.
Technical View:
Ratnamani Metals & Tubes Ltd., is closed at Rs. 562.75, down by 19.2 points or 3.30% from its earlier closing of Rs. 581.95 on the BSE.
The scrip had touched a high and low of Rs. 603.00 and Rs. 558.05, respectively, after opening at Rs. 581.95.
Standalone Results Q2FY17:
Ratnamani Metals & Tubes’ Q2FY17 standalone numbers have come in mixed as against Bloomberg estimates. While net revenue and net profit were below estimates, EBITDA was marginally above the estimated figure. The net revenue was 7.6% lower than the estimated figure of Rs 364 crore. Its EBITDA was 1.4% above the estimate of Rs 51 crore and net profit missed the estimate of Rs 32 crore by 11.3%.
The net revenue for the quarter fell 23.8% YoY to Rs 336 crore due to a 24% YoY drop in the major steel tubes and pipes segment.
The EBITDA for the quarter fell 11.1% YoY to Rs 52 crore, with an EBITDA margin expansion of 221 bps to 15.4%. This was primarily due to an all-round reduction in operating costs which fell 26% YoY.
Also, the net profit for the period fell 13.8% YoY to Rs 29 crore.
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