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Last Updated : May 24, 2019 02:11 PM IST | Source: Moneycontrol.com

Salzer up 15%, SPIC 10% on strong Q4 earnings

Southern Petrochemical Industries Corporation also reported a whopping 143 percent jump in profit at Rs 16.5 crore and 15.2 percent growth in revenue at Rs 456 crore for quarter ended March 2019 YoY.

 
 
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Salzer Electronics and Southern Petrochemical Industries Corporation (SPIC) shares gained 15 percent and 10 percent intraday, respectively, on May 24 as profit growth in Q4 were robust despite margin contraction.

Salzer Electronics' March quarter profit grew by 72.8 percent year-on-year to Rs 8.4 crore and revenue increased 22.3 percent to Rs 155 crore.

Earnings before interest, tax, depreciation and amortisation (EBITDA) rose 2.8 percent to Rs 16.9 crore, but margin contracted 200 bps compared to the year-ago quarter.

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Southern Petrochemical Industries Corporation also reported a whopping 143 percent jump in profit at Rs 16.5 crore and 15.2 percent growth in revenue at Rs 456 crore for quarter ended March 2019 YoY.

However, at operating level, EBITDA fell 11.8 percent year-on-year to Rs 55.3 crore and margin declined 170 bps in Q4.

Salzer Electronics was quoting at Rs 131.50, up Rs 13.90, or 11.82 percent and Southern Petrochemical Industries Corporation was up 7.66 percent at Rs 25.30 on the BSE, at 13:37 hours IST.

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First Published on May 24, 2019 02:11 pm
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