Subros reports weak Q3FY18 result

Subros reported its results for the quarter ended December 31, 2017 on Tuesday. Its standalone revenue for the quarter came in at Rs. 448.77 crore, registering 7.7 per cent yoy increase.

EBITDA for the quarter rose by 13.7 per cent yoy to Rs. 47.6 crore with a corresponding margin expansion of 56 bps. EBITDA margin for the quarter stood at 10.6 per cent. The PAT for the quarter came in at Rs. 16.43 crore against profit of Rs. 0.83 crore in corresponding quarter last year. This was led by jump in other income to Rs. 4.36 crore from Rs. 1.02 crore in Q3FY17.

Company has witnessed rise in material cost due to change in product mix, increased commodity prices, sales of new models compensated with cost optimization initiatives.

On Tuesday, the stock of Subros opened at Rs. 361.65 per share and touched an intra-day high and low of Rs. 370 and Rs. 351, respectively, on the BSE.