Oriental Carbon & Chemicals reports robust growth in Q2FY19

Oriental Carbon & Chemicals reported its second quarter result for fiscal year 2018-19 on Thursday

The company's total income for Q2FY19 grew by almost 31 per cent to Rs. 99.6 crores as compared to Rs. 76.1 crores in Q2FY18. This was driven by a mix of increase in volume and price hike.

EBITDA (including other income) for the quarter surged almost 32 per cent yoy to Rs. 31.60 crore. While its EBITDA for the same period remained stable at 31.6 per cent.

Notably, the company’s after tax profit jumped by almost 42 per cent yoy to Rs. 17.7 crore. Its net profit margin in this quarter improved a bit to 17.7 per cent from 16.3 per cent in Q2FY18.

The board of directors have approved the buyback of shares through the open market mechanism to the extent of Rs. 35 crores at a maximum price of Rs. 1,150 per share. Also, it has declared an interim dividend of Rs. 4 per equity share of Rs. 10 each.