Sadbhav Infra narrows net loss

Sadbhav Infrastructure Project's consolidated revenue for the quarter came in at Rs. 848.89 crore, registering 118.2 per cent yoy increase.

EBITDA for the quarter rose by 23.4 per cent yoy to Rs. 310.357 crore with a corresponding margin contraction of 2808 bps. EBITDA margin for the quarter stood at 36.6 per cent. This was due to a sharp rise in construction cost in proportion to revenue (53 per cent in Q2FY19 as against 10 per cent in Q2FY18).

The company’s net loss for the quarter narrowed to Rs. 68.10 crore from Rs. 93.10 crore in the corresponding quarter of last year.

During the quarter, the company repaid debt of Rs. 47.8 crore.

In response to this result, the stock of Sadbhav Infra on Tuesday’s trading session opened at Rs. 106.15 per share, but later dipped to an intraday low of Rs. 104 per share.