Q1FY19 Result: Avantel EBITDA spikes 165 per cent

Avantel reported its results for the quarter ended June 30, 2018 on Thursday after market hours. The company’s topline and operating income jumped whereas the decline in other income dragged the bottomline.

The company’s revenue for the quarter came in at Rs. 12.18 crore, registering 28.5 per cent yoy increase.

EBITDA for the quarter rose by 165 per cent yoy to Rs. 3.63 crore with a corresponding margin expansion of 1535 bps. EBITDA margin for the quarter stood at 29.8 per cent as against 14.5 per cent in the corresponding quarter last year.

The PAT for the quarter came in at Rs. 2.42 crore, yoy decline of 80.2 per cent. This was mainly due to a sharp decline in other income to 0.04 crore from Rs. 15.13 crore in the corresponding quarter last year.

Avantel is engaged in the business of manufacturing telecom products and provides related customer support services.

On Friday, the stock opened at Rs. 316.60 per share, up by almost 5 per cent from its previous close of Rs. 301.55, on the BSE.