On a consolidated basis, Antony Waste Handling Cell's net profit jumped 75.5% to Rs 19.43 crore on 8.6% rise in net sales to Rs 123.48 crore in Q3 FY21 over Q3 FY20.
The waste management company reported its first quarterly result after listing on bourses on 1 January 2021. The initial public offer (IPO) of Antony Waste Handling Cell was subscribed 15 times. The price band for the IPO was set at Rs 313-315 per share. The issue was open for subscription between 21st and 23rd December 2020.Profit before tax surged by 31.3% to Rs 21.71 crore in Q3 FY21 from Rs 16.53 crore in Q3 FY20. Current tax expense fell 3.8% to Rs 5.37 crore in Q3 FY21 over Q3 FY20.
EBITDA surged 19% year-on-year to Rs 36.5 crore in Q3 FY21 over Q3 FY20. EBITDA margin improved to 28.6% in Q3 FY21 from 26.3% in Q3 FY20. The company said that steady improvement in EBITDA margins reflects consistent efforts to reduce project costs and improved operational efficiency.
Commenting on the results, Jose Jacob, chairman & MD of Antony Waste Handling Cell said, "We are happy to report strong financial and operational performance during this quarter as all our businesses performed in line with our expectations. Our total operating revenue for the quarter grew by 12% on a sequential basis to Rs 118 cr whereas EBITDA and PAT grew by 12% and 9% respectively. The MSW C&T business registered a volume growth of 8% in Q3 FY21 as compared to Q2 FY21. We continue to focus on increasing our pipeline by bidding for new projects to increase our revenue. The volumes of our MSW processing business grew by ~11% in Q3 FY21 as compared to Q2 FY21. Both our sites at Kanjurmarg and Pimpri Chinchwad continue to perform in line with our expectations and we are confident of maintaining a steady growth. The improvement in EBITDA margin is expected to be sustained going forward. We see significant tailwinds and are confident that growth momentum will continue through this year and into the next several years for all of our businesses."
Shares of Antony Waste Handling were up 0.12% at Rs 329.80.
Antony Waste Handling Cell is one of the top five players in the Indian MSW (municipal solid waste) management industry with an established track record of more than 19 years, providing full spectrum of MSW services which includes solid waste collection, transportation, processing and disposal services across the country.
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