Moneycontrol
Nov 13, 2017 02:38 PM IST | Source: Moneycontrol.com

Sanghvi Movers, AksharChem down 7-9% on dismal Q2 numbers

Akshar Chem has reported 60.8 percent fall in its Q2 net profit at Rs 13.5 crore against Rs 34.4 crore. Revenue was down 21.6 percent at Rs 65.6 crore.

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Shares of Sanghvi Movers and AksharChem (India) fell 7-9 percent intraday Monday on the back of dismal September quarter (Q2FY18) numbers.

Sanghvi Movers has reported Q2 net loss at Rs 22.3 crore against profit of Rs 12.5 crore, in a year ago period.

Revenue declined 64.3 percent at Rs 39.7 crore versus Rs 111.1 crore.

Earnings before interest, tax, depreciation and amortization (EBITDA) was down 83.3 percent at Rs 10.8 crore and EBITDA margin fell 3120 bps at 27.3 percent.

Akshar Chem has reported 60.8 percent fall in its Q2 net profit at Rs 13.5 crore against Rs 34.4 crore. Revenue was down 21.6 percent at Rs 65.6 crore.

EBITDA was down 64.6 percent at Rs 11.2 crore and EBITDA margin was down 2070 bps at 17 percent.

At 14:35 hrs AksharChem (India) was quoting at Rs 694.40, down 5.92 percent and Sanghvi Movers was quoting at Rs 150.40, down 6.90 percent on the BSE.

Posted by Rakesh Patil
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