Godawari Power reports superlative PAT growth

Godawari Power & Ispat’s consolidated revenue for the second quarter of FY19 came in at Rs. 804.39 crore which represent 45 per cent increase from the corresponding quarter of last year.

Sponge Iron and Iron Ore Pellet Realisation in the quarter increased by 34 per cent yoy each. Steel Billets Realisation, Wire Rod/TMT Bar Realisation and HB Wire Realisation increased by 30 per cent, 27 per cent and 23 per cent, yoy respectively.

While its EBITDA for the quarter surged 71 per cent yoy to Rs. 205.4 crore. The company's EBIDTA margin for the period stood at 25.53 per cent.

 Notably, the company’s net profit jumped to Rs. 61.83 crore from Rs. 22.61 crore in the corresponding quarter of last year, representing impressive growth of 173 per cent.

 The company further stated that is has reduced consolidated net debt by Rs. 108 crore since the beginning of the current financial year in line with the guidance. The company's consolidated long term debt at the end of H1 stood at Rs. 1,884 crore (Rs. 1,992 crore at the end of March 2018).