News / SKF India Ltd's Q3FY17 standalone net profit rises 16% yoy to Rs.65 crore : Beats Estimates
Date: 2017-02-14
SKF India Ltd's Q3FY17 standalone net profit rises 16% yoy to Rs.65 crore : Beats Estimates
The company’s standalone revenue stood at Rs. 715 crore, up 8.66% yoy and 7.99% qoq.
SKF India Ltd Q3FY17
Standalone Results Q3FY17: (Rs. in crore)
Q3FY17 YoY (%)
Revenue 715 9
EDITDA 90 [0.6]
EBITDA Margin (%) 12.6 [116]
Net Profit (adjusted) 65 16
***EBITDA margin change is bps
SKF India (SKF) posted a ~9% yoy growth in revenue beating estimates by 17%. EBITDA declined 0.6% yoy to Rs 90 Cr. Net profit grew 16% yoy to Rs 65 Cr, beating estimates.
SKF posted a ~9% yoy growth in revenue beating estimates by 17%. The growth was supported by bearings and after market product sale.
EBITDA at Rs 90 Cr declined 0.6% yoy largely due higher expenses and revenues. However, EBITDA margin contracted 116bps yoy to 12.6% impacted by overall rise in cost.
Net profit grew 16% yoy to Rs 65 Cr. This was supported by 20% rise in other income to Rs 24 Cr.
Technical View:
SKF India Ltd is currently trading at Rs. 1410, down by 7.65 points or 0.54% from its previous closing of Rs. 1417.65 on the BSE.
The scrip opened at Rs. 1435 and has touched a high and low of Rs. 1448 and Rs. 1391.5 respectively. So far 11267(NSE+BSE) shares were traded on the counter. The stock is currently trading below its 200 DMA.
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