Q1FY19 Result: Steel Strips Wheels PAT jumps 31 per cent

Steel Strips Wheels reported its results for the quarter ended June, 2018 on Tuesday during market hours. The company’s standalone revenue for the quarter came in at Rs. 500.69 crore as against Rs. 350.71 crore in the corresponding quarter last year, registering 42.8 per cent yoy increase.

EBITDA for the quarter rose by 37.1 per cent yoy to Rs. 63.78 crore with a corresponding margin contraction of 53 bps. EBITDA margin for the quarter stood at 12.7 per cent.

The PAT for the quarter came in at Rs. 21.51 crore, yoy increase of 31 per cent.

Steel Strips Wheels Limited is engaged in the manufacturing of steel wheel rims catering to different segments of the automobile industry.

On Tuesday, the stock opened at Rs. 1,200 per share and made an intraday high and low of Rs. 1,220.65 and Rs. 1,171.05, respectively and finally closed at Rs. 1,179.60 on the BSE.