Pennar Industries jumps on strong results

Pennar Industries reported robust results with stable revenues and increasing margins on lower other expenses.

The revenue for the quarter decline by 7 per cent yoy to Rs. 504 crore in Q4FY18 as compared to Rs. 542 crore in Q4FY17 and grew 20 per cent qoq from Rs. 419 crore in the previous quarter.

The EBITDA for the quarter rose by 116 per cent yoy to Rs. 78 crore in Q4FY18 as compared to Rs. 36 crore in Q4FY17. This was largely due to 16 per cent yoy decline in other expenses to Rs. 96 crore in Q4FY18 as against Rs. 112 crore. The margins for the quarter rose by 880 bps to 15.5 per cent

The bottom-line for the quarter also rose substantially by 197 per cent yoy to Rs. 40 crore in Q4FY18 as against Rs. 13 crore in Q4FY17. The company recorded one time exceptional gain of Rs. 12.9 crore by sale of investments.

For the full year, revenue grew by 16 per cent to Rs. 1,341 crore, EBITDA for year remained unchanged at Rs. 204 crore in FY18. While the unadjusted net profit for the FY18 stood at Rs. 80 crore as against Rs.69 crore in FY17

On Monday, the stock was trading 7.9 per cent up at Rs. 55.9 per share at 11:59 hours