Q2FY19 Results: Jiya Eco Products profit spikes

Jiya Eco Products reported its results for the quarter ended September 30, 2018 during market hours.

The company's consolidated revenue for the quarter came in at Rs. 53.46 crore as against Rs. 14.35 crore in the corresponding quarter of last year, registering 272.5 per cent yoy increase. 
  
The EBITDA for the quarter rose by 152.4 per cent yoy to Rs. 7.95 crore as against Rs. 3.15 crore in the corresponding quarter last year, with a corresponding margin contraction of 708 bps. EBITDA margin for the quarter stood at 14.9 per cent.

The PAT for the quarter came in at Rs. 6.47 crore as against Rs. 2.26 crore in the corresponding quarter last year, yoy increase of 186.3 per cent. This was due to a decline in interest expenses by 31.7 per cent yoy.

Jiya Eco-Products is engaged in the manufacturing of biofuel, such as bio-briquettes and bio-pellets, which is an alternative source of energy. It is the only listed company that manufactures biomass briquettes and pellets from agriculture waste and forest waste.

On Monday, the stock opened at Rs. 80.40 per share and made an intraday high of Rs. 89.95. At 14:45, the stock was trading at around Rs. 89.75 on the BSE.