Hubtown enthuses with turnaround
By
Research Desk
about 8 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.