Sintex tanks after Q3FY17

Sintex declared its Q3FY17 results on Friday. The company’s revenue increased 0.37 per cent to Rs 2091 crore in Q3FY17 as compared to the same period in previous financial year. Its EBITDA rose 0.78 per cent to Rs 348 crore in Q3FY17 on a yearly basis. Sintex’s EBITDA margin expanded by just eight basis points to 16.64 per cent in Q3FY17 on a YoY basis.

However, the company’s net profit dropped 38.69 per cent to Rs 111 crore in Q3FY17 as compared to the same period in the previous fiscal. Its interest expense increased 39.6 per cent to Rs 82 crore in Q3FY17 on a yearly basis.

Considering the nine-months financials, Sintex’s topline increased 9.96 per cent to Rs 6079 crore in 9MFY17 on a yearly basis. The company’s EBITDA too rose 17.15 per cent to Rs 1051 crore in 9MFY17 as compared to the same period in previous fiscal year. However, its bottomline decreased 11.16 per cent to Rs 351 crore in 9MFY17 on a yearly basis.

The share price of Sintex declined 8.33 per cent on bourses after the results were declared and is trading at Rs 82.9 on an intra-day basis. Going forward, how the company manages finance cost will be watched in the last quarter of the current financial year.