Quarterly Results: Ashoka Buildcon Ltd
Bhagyashree Vivarekar / 02 Dec 2016
Ashoka Buildcon Ltd's net profit for the period rose 44.9% YoY to Rs 45 crore. It is currently trading at Rs 143, down by 1.1 points or 0.76% from its previous close of Rs 144.1.
Technical View:
Ashoka Buildcon Ltd is currently trading at Rs 143, down by 1.1 points or 0.76% from its previous close of Rs 144.1 on the BSE.
The scrip opened at Rs 144.9 and has touched a high and low of Rs 145 and Rs 141, respectively. A total of 52214 (NSE+BSE) shares were traded on the counter. The stock is currently trading above its 50 DMA.
Standalone Results Q2FY17:
Ashoka Buildcon’s Q2FY17 declared its standalone numbers today. The company's net revenue for the quarter fell 5.3% YoY to Rs 443 crore. This was primarily due to 4% YoY decline in its major segments, viz. construction & contracts.
However, the companys' EBITDA for the period rose 10.6% YoY to Rs 70 crore with EBITDA margins expanding 226 bps YoY to 15.8%. The margin expansion was on account of 10.2% YoY drop in cost of materials consumed.
Also, its net profit for the period rose 44.9% YoY to Rs 45 crore. This was on the back of strong operational performance aided by a 26.1% YoY decline in finance costs. Its effective tax rate dropped to 21.6% from 30.6% last year, which also aided in the strong bottomline growth.
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