Skipper slumps on poor quarterly results
Skipper Limited reported weak quarter with substantial decline in bottom-line.
The revenue for the quarter rose by 10.6 per cent yoy and 19.3 per cent qoq to Rs. 479 crore as against Rs. 433 crore in Q1FY18. The engineering product business witnessed strong revenue growth to Rs. 404 crore in Q1FY19 as compared to Rs. 365 crore in the previous year's corresponding quarter.
The EBITDA for the quarter declined by 12.8 per cent yoy to Rs. 45 crore as against Rs. 51.5 crore in the previous year's corresponding quarter. The EBITDA margin for the quarter rose declined by 250 bps to 9.4 per cent as compared to 11.9 per cent. This was largely due to higher rise in raw material costs to Rs.365 crore in Q1FY19 as compared to Rs. 295 crore in the corresponding quarter's last year.
The net profit for the quarter declined by 72.3 per cent yoy to Rs. 4 crore in Q1FY19 as against Rs.16 crore in the corresponding quarter last year.
The stock of Skipper Limited closed 12.17 per cent down to Rs.135 per share.