 "Himatsingka Seide gains on strong Q1 results")
Himatsingka Seide was trading higher by 3% at Rs 268 on the BSE after the company reported a healthy 69% year on year (YoY) jump in its consolidated net profit at Rs 45.35 crore for the quarter ended June 30, 2016 (Q1FY17), on back of strong operational performance.
Total revenues of the company during the quarter grew 2% at Rs 480 crore compared to the same quarter last year.
The company engaged in textiles business said the EBITDA (earnings before interest, depreciation and taxes) margin expanded 300 basis points to 19.20% from 16.20%.
The company said it has commenced trial production of its new sheeting capacity at its facility in Hassan. The new sheeting capacity will enhance the installed sheeting capacity from 23 million meters per annum (MMPA) to 46 MMPA.
The stock hit a high of Rs 269 on the BSE in intra-day trade on Thursday. It recovered 11% from Wednesday’s low level of Rs 242, after announcements of Q1 results.
A combined 126,771 shares changed hands on the counter on the BSE and NSE till 11:01 am.
Total revenues of the company during the quarter grew 2% at Rs 480 crore compared to the same quarter last year.
The company engaged in textiles business said the EBITDA (earnings before interest, depreciation and taxes) margin expanded 300 basis points to 19.20% from 16.20%.
The company said it has commenced trial production of its new sheeting capacity at its facility in Hassan. The new sheeting capacity will enhance the installed sheeting capacity from 23 million meters per annum (MMPA) to 46 MMPA.
The stock hit a high of Rs 269 on the BSE in intra-day trade on Thursday. It recovered 11% from Wednesday’s low level of Rs 242, after announcements of Q1 results.
A combined 126,771 shares changed hands on the counter on the BSE and NSE till 11:01 am.