Shankara Building Products announced its quarterly earnings for the first time after its listing on exchanges in April 2017. Consolidated profit for January-March quarter grew by 10.9 percent to Rs 19 crore compared with year-ago period, driven by stable topline and operational growth.
Revenue on consolidated basis increased 5.2 percent to Rs 600.4 crore compared with Rs 570.8 crore in same quarter last fiscal, led by growth in its both segments retail and channel & enterprise.
Operating profit during the quarter grew by 10.1 percent year-on-year to Rs 45.6 crore and margin expanded by 30 basis points to 7.6 percent in the quarter ended March 2017.
For the financial year 2016-17, profit jumped 14.8 percent to Rs 60.27 crore and total income from operations rose 13.4 percent to Rs 2,310.4 crore compared with previous year.
Bangalore headquartered Shankara Building Products is a retailer of home improvement and building products including structural steel, cement, TMT bars, hollow blocks, pipes and tubes, roofing solutions, welding accessories, primers, solar heaters, plumbing, tiles, sanitary ware, water tanks, plywood, kitchen sinks, lighting and other allied products.
At 15:02 hours IST, the stock price was quoting at Rs 697.75, up Rs 2.00, or 0.29 percent on the BSE.
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