Q2FY19 Result: Aksharchem reports 20 per cent revenue growth

Aksharchem (India) Limited reported results for the quarter ended September 30, 2018 on Tuesday.

Aksharchem's standalone revenue for the quarter came in at Rs. 83.7 crore, registering 20.2 per cent yoy increase. EBITDA for the quarter fell by 7.8 per cent yoy to Rs. 13.98 crore with a corresponding margin contraction of 507 bps. EBITDA margin for the quarter stood at 16.7 per cent. This margin contraction was aided by the higher cost of manufacturing during the quarter. Also, there was substantial growth in general expenses.

The PAT for the quarter came in at Rs. 7.42 crore, yoy decline of 27.6 per cent. PAT margin during the quarter stood at 9 per cent as compared to 15 per cent showing margin contraction of 585 bps.

On Tuesday, the stock closed at a price of Rs. 459 per share, down by almost 1 per cent on BSE. While the benchmark index BSE Sensex closed 176 points down at 33,891 for the day.