Q2FY19 Results: Kriti Industries narrows net loss to Rs. 1.5 crore

Kriti Industries standalone revenue for the second quarter of FY19 came in at Rs. 84.3 crore, registering 32.1 per cent yoy increase.

EBITDA for the quarter rose by 6.6 per cent yoy to Rs. 3 crore with a corresponding margin contraction of 86 bps. EBITDA margin for the quarter stood at 3.6 per cent.

The company’s net loss during the quarter narrowed marginally to Rs. 1.5 crore from loss of Rs. 1.7 crore in corresponding quarter of last year.

Kriti Industries (India) Limited is engaged in the pipes business. It operates under Plastic segment in over four verticals, such as agriculture, building products, micro irrigation and infrastructure. Its agriculture products include rigid polyvinyl chloride (RPVC) pipe and fittings, casing pipe, polyethylene (PE) coils, sprinkler systems, submersible pipe, suction and garden pipe.

Ahead of its quarterly result, the stock of Kriti Industries closed at a negative mark of Rs. 37 per share as against previous close of Rs. 37.40 apiece, down by almost 1.1 per cent.