February 21, 2017 / 15:25 IST
Revenues declined 2% YoY (up 27% QoQ) to Rs 964.9 crore (I-direct estimate: Rs 838.1 crore). Revenues from tanker segment (77% of total revenues) grew 12% YoY to Rs 745.9 crore. However, offshore and bulk segment de-grew for a third consecutive quarter with a YoY decline of 39% and 30%, respectively in Q3FY1.
Outlook
We believe the inland waterway opportunity would take some time to pan out. This would be closely monitored. Amid a grim scenario, we maintain a cautious stance on the shipping industry. Consequently, we have a SELL recommendation on the stock with a target price of Rs 55.
For all recommendations, click here Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Read More
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!