Hubtown enthuses with turnaround
Hubtown enthuses with turnaround
By Research Desk
about 10 years ago
Hubtown announced its Q4FY16 and FY16 numbers yesterday and the market seems to be enthused about it. A 83% (YoY) drop in expenses, 12% decline in interest outgo and tax write back of Rs.7 crore – all on a 12% rise in net sales at Rs.169 helped the company end the quarter with a net profit of Rs.16 crore v/s loss of Rs.30 crore.
It ended FY16 with a consolidated net loss of Rs.29 crore v/s small profit of Rs.74 lakh in Fy15. Its borrowings have come down by around 10% to Rs.830 crore.
The stock is doing well. Intra day, the stock rose over 7% to Rs.100.50.