Q1FY18 results impact: PNB Housing Finance goes up while CEAT goes down
Shital Jibhe / 04 Aug 2017
The stock of PNB Housing Finance shot up by over 5% intraday on Friday after the company reported robust Q1FY18 results due to higher loan growth.
The stock of PNB Housing Finance shot up by over 5% intraday on Friday after the company reported robust Q1FY18 results due to higher loan growth.
The company’s NII for the quarter increased by 72.3% YoY to Rs 439.2 crore. This was due to an increase in interest earned by 38% to Rs 1,192.2 crore vis-a-vis lower increase in interest expended by 23.8% at Rs 752.9 crore for the quarter. Its net profit for the quarter increased strikingly by 92.6% YoY to Rs 184.7 crore.
The stock was trading higher by 5.61% at Rs 1,521 per share on the BSE at 1035 hours. It touched its intraday high and low at Rs 1,533.90 and Rs 1,499 per share respectively.
On the other hand, shares of CEAT dropped by over 7% intraday during Friday’s trading session on the back of the company’s weak Q1FY18 results due to higher expenses. Its consolidated revenue for the quarter came in at Rs 1,628.6 crore, registering 1.1% YoY decline. EBITDA for the quarter fell by 56.3% YoY to Rs 94.2 crore with a corresponding margin contraction of 731 bps. The PAT for the quarter came in at Rs 1.4 crore, showing a YoY decline of 98.7%.
The stock was trading lower by 7.11% at Rs 1,767 per share on the BSE at 1027 hours. It touched its intraday high and low at Rs 1,833 and Rs 1,749.15 per share respectively.
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