GMDC Q1 PAT seen down at 5.1% to Rs 74 cr: ICICI Securities

ICICI Securities has come out with its first quarter (April-June) earnings estimates for the metal sector. The brokerage house expects GMDC to report a 5.1 percent degrowth quarter-on-quarter (growth of 0.6 percent year-on-year) in net profit at Rs 74 crore.Sales are expected to decrease by 10.5 percent Q-o-Q (up 1.6 percent Y-o-Y) to Rs 321.6 crore, according to ICICI Securities.

Earnings before interest, tax, depreciation and amortisation (EBITDA) are likely to rise by 22.6 percent Q-o-Q (up by 6.6 percent Y-o-Y) to Rs 106.9 crore.

ICICI Securities report on GMDCWe are expecting 2.2mnte of volumes in GMDC for Q1FY17 with pricing also reflecting the increase in Clean Environment Cess. Hence EBITDA sees a 6-7 percent increase Y-o-Y. Clearly, the external environment is turning favourable for GMDC hence volume performance remains the key moniterable.

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