Sadbhav Infra rises 2 per cent as Q1FY19 loss narrows

Sadbhav Infrastructure Project reported its results for the quarter ended June 30, 2018. The net loss for the quarter narrowed to Rs. 65 crore as against net loss of Rs. 120 crore in the corresponding quarter last year.
  
The company’s consolidated revenue for the quarter came in at Rs. 798 crore as against Rs. 502 crore in the corresponding quarter last year, registering 59 per cent yoy increase.
  
EBITDA for the quarter rose by 25.7 per cent yoy to Rs. 284 crore as against Rs. 226 crore in the corresponding quarter last year with a margin contraction of 943 bps. EBITDA margin for the quarter stood at 35.6 per cent as against 45 per cent in the corresponding quarter last year.
  
The net loss for the quarter narrowed to Rs. 65 crore as against net loss of Rs. 120 crore in the corresponding quarter last year. With the reduction in interest rate during last couple of years due to refinance of debt in 9 SPVs out of 11 operational SPVs, the company has seen finance costs reducing by Rs. 30 crore yoy. Now this along with healthy growth in traffic volume has led to increase in cash profits by Rs. 59 crore yoy, jumps by 223.54 per cent.
  
On Thursday, the stock opened at Rs. 116 per share and made an intraday high and low of Rs. 120. At 10:55 hours, the stock was trading at around Rs. 118.90 on the BSE.