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HomeNewsBusinessMarketsAtul, Subros, Panama Petrochem, Ruchira Papers gain 2-9% after strong Q2 earnings

Atul, Subros, Panama Petrochem, Ruchira Papers gain 2-9% after strong Q2 earnings

Auto airconditioning manufacturing company Subros has reported strong set of earnings for the quarter ended September 2018.

October 26, 2018 / 14:05 IST
     
     
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    Strong earnings performance in July-September quarter on Friday helped Atul, Subros, Panama Petrochem and Ruchira Papers shares gain 2-9 percent intraday.

    Atul gained as much as 4 percent, Subros 8.6 percent, Panama Petrochem 2 percent and Ruchira Papers 7.6 percent during the day.

    Auto airconditioning manufacturing company Subros has reported strong set of earnings for the quarter ended September 2018 as net profit surged by 58 percent year-on-year to Rs 23.8 crore and revenue grew by 13.5 percent to Rs 564 crore.

    EBITDA (earnings before interest, tax, depreciation and amortisation) increased 9.1 percent to Rs 59.3 crore but margin contracted by 40 bps to 10.5 percent YoY.

    Petroleum specialty products maker Panama Petrochem's second quarter profit grew by 3.4 percent sequentially to Rs 10.8 crore on strong operational performance, but revenue fell 7.6 percent to Rs 286.4 crore.

    EBITDA (earnings before interest, tax, depreciation and amortisation) jumped 18.5 percent quarter-on-quarter to Rs 22.9 crore and margin contracted 180 bps to 8 percent in Q2.

    Chemical conglomerate Atul has reported a healthy 70 percent on year growth in second quarter profit to Rs 119 crore, driven by revenue as well as operational performance.

    Revenue from operations during the quarter grew by 28 percent to Rs 1,007 crore compared to Rs 787 crore in same period last year.

    EBITDA (earnings before interest, tax, depreciation and amortisation) shot up 52.2 percent year-on-year to Rs 190 crore and margin expanded by 300 bps to 18.9 percent YoY.

    Ruchira Papers' shares gained nearly 8 percent intraday after the second quarter profit grew by 29.7 percent year-on-year to Rs 10.9 crore and revenue rose by 25 percent to Rs 130 crore.

    EBITDA (earnings before interest, tax, depreciation and amortisation) shot up 40.5 percent to Rs 22.5 crore and margin expanded 190 basis points to 17.3 percent YoY.

    At 13:27 hours IST, Atul stock was up 2.2 percent at Rs 3,265.90, Subros up 4.34 percent at Rs 269.50, Panama Petrochem 2.08 percent at Rs 117.60 and Ruchira Papers up 3.08 percent at Rs 132.20 on the BSE.

    Moneycontrol News
    first published: Oct 26, 2018 02:05 pm

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