Nelcast Q2FY19 profit rises 15 per cent

Nelcast Ltd reported its results for the quarter ended September 30, 2018

The company's standalone revenue for the quarter Q2FY19 came in at Rs. 242.91 crore as against Rs. 179.64 crore in the corresponding quarter last year, registering an increase of 35.2 per cent YoY.

The EBITDA for the quarter rose by 19.8 per cent YoY to Rs. 21.68 crore as against Rs. 18.1 crore in the corresponding quarter last year, with a corresponding margin contraction of 115 bps. Its EBITDA margin for the quarter stood at 8.9 per cent.

The PAT for the quarter came in at Rs. 11.54 crore as against Rs. 10.03 crore in the corresponding quarter last year, an increase of 15 per cent YoY.

Nelcast Limited is engaged in the business of manufacturing and sale of iron castings. The company is a supplier of ductile iron castings and grey iron castings.

The stock on Monday opened at Rs.67.60 and touched a high/low of Rs.71.45/Rs.67.60 and at 2:34 pm the stock was quoting at Rs.69.60, up by 3.73 per cent