Nirlon jumps on "turnaround"

about 7 years ago
No image

Nirlon posted a “turnaround” performance for Q4Fy17. This was purely on account of some lower expenses and exceptional expenses seen in Q4FY16. That explains why despite a flattish revenue at Rs.74 crore, the company ended the quarter with a net profit of Rs.10.60 crore v/s loss of Rs.11.40 crore(YoY). Sequentially, net profit was down 41%.

A 5% drop in total expenses, other income of Rs.88 lakh, a 48% drop in tax outgo and a 6% decline in interest outgo helped this turnaround.

The company ended the quarter with a net profit at Rs.57 crore v/s Rs.43 crore in FY16. Equity stands at Rs.90.11 crore and EPS for the year was at Rs.6.35 (FV of Rs.10).

Nirlon stock price has reacted very positively to this performance and the stock rose 10% to the intra day high point at Rs.224. Volumes are up some 10 times.

Popular Comments

No comment posted for this article.