Setco Automotive Q1FY19 profit at Rs 8 crore

Setco Automotive reported its results for the quarter ended June 30, 2018 on Tuesday.

The standalone revenue for the quarter came in at Rs 137 crore as against Rs. 73.16 crore in the corresponding quarter last year, registering an increase of 87.7 per cent YoY.

The operating level profit turned positive with EBITDA of Rs. 20.67 crore as against operating loss of Rs. 3.41 crore in the corresponding quarter last year. The EBITDA margin for the quarter stood at 15.1 per cent.

The net profit for the quarter came in at Rs. 8.18 crore as against net loss of Rs. 11.89 crore in the corresponding quarter last year.

Setco Automotive is the third largest clutch manufacturing company in the world in terms of volumes. It commands over 85 per cent of the OEM M&HCV clutch market, meets 100 per cent requirement of Tata Motors, Bharat Benz and Eicher Volvo and caters to 65 per cent of Ashok Leyland's requirements.

Today, the stock opened at Rs. 51.55 and made an intra-day high and low of Rs. 54.20 and Rs. 50.80, respectively, on the BSE.