India Cements net profit rises 16% in Q1; Shares up by 5%
The company's operating profit was at Rs 204.61 crore, rising by 2.08% year-on-year (yoy). It's operating profit (OPM) margin was at 16.96%, expanding by 62 basis points yoy.
India Cements reported net profit of Rs 43.98 crore for the quarter ended June, 2016, a rise of 16.34% from Rs 37.80 crore in the corresponding period of the previous year.
However, in terms of top-line the company saw a gradual decline. It's total income was at Rs 1205.72 crore, down by 1.63% versus Rs 1225.7 crore a year ago same period.
The bottom-line was boosted by positive EBITDA margins.
While operating profit (EBITDA - earnings before interest tax depreciation and amortization) stood at Rs 204.61 crore, rising by 2.08% year-on-year (yoy). It's operating profit margin was at 16.96%, expanding by 62 basis points yoy.
June quarter performance has been reported as per the Indian-Accounting standards (Ind-AS).
After the announcement, the share price of India Cements has soared nearly 5% to Rs 129.75 at 13.14 pm. It's stock opened at Rs 124.50 flat from the previous closing.
Nearly 1,27,000 have been exchanged by investors on BSE.