Tyre manufacturer MRF
's net profit for the quarter ended June 2012 grew by 350% year-on-year
to Rs 144 crore due to low base in the corresponding quarter of last fiscal.
Net sales rose by 17% to Rs 3,006 crore in the third quarter
of FY12 from Rs 2,570.4 crore in a year ago period due to improvement in
replacement market demand, export and better product mix.
Operating profit margin improved to 10.7% as against 5.9% in
a year ago period, but that declined by 20 basis points compared to previous
quarter.
Other income fell to Rs 3.82 crore from Rs 11 crore
year-on-year while depreciation cost increased to Rs 77.6 crore from Rs 61
crore during the same period.
At 14:03 hours IST, the share was trading at Rs 10,232, up
2.87% amid large volumes.
April-June quarter of 2012.
Analysts had expected total income at Rs 3,080 crore and
operating profit margin at 83.9%.
Earnings before interest, tax, depreciation and amortisation
(EBITDA) grew by 34% to Rs 2,465 crore, which was lower than expectations of Rs
2,584 crore.
Company said its transmission income was expanded by 32% YoY
to Rs 2,774 crore.
PGCIL seemed very positive on capitalization plans.
Capitalization increased more than five times to Rs 4,100 crore as against Rs
800 crore in a year ago period.
Capex for the quarter ended June 2012 stood at Rs 3,000
crore, which was higher by 50% compared to corresponding quarter of last
fiscal.
The management said improvement was seen across
transmission, project approval, execution etc.
The company has awarded projects worth Rs 6,000 crore during
the quarter, which was quite high compared to Rs 330 crore in a year ago
period.
hest in
the industry.
The bank restructured loan book stood at Rs 197 crore or
0.51% of its gross loans.
Source: www.moneycontrol.com
Thanks,
Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd
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