SKF India Ltd's Q3FY17 standalone net profit rises 16% yoy to Rs.65 crore : Beats Estimates

Release Time：14 Feb,2017

The company’s standalone revenue stood at Rs. 715 crore, up 8.66% yoy and 7.99% qoq. SKF India Ltd Q3FY17 Standalone Results Q3FY17: (Rs. in crore) Q3FY17 YoY (%) Revenue 715 9 EDITDA 90 [0.6] EBITDA Margin (%) 12.6 [116] Net Profit (adjusted) 65 16 ***EBITDA margin change is bps SKF India (SKF) posted a ~9% yoy growth in revenue beating estimates by 17%. EBITDA declined 0.6% yoy to Rs 90 Cr. Net profit grew 16% yoy to Rs 65 Cr, beating estimates. SKF posted a ~9% yoy growth in revenue beating estimates by 17%. The growth was supported by bearings and after market product sale. EBITDA at Rs 90 Cr declined 0.6% yoy largely due higher expenses and revenues. However, EBITDA margin contracted 116bps yoy to 12.6% impacted by overall rise in cost. Net profit grew 16% yoy to Rs 65 Cr. This was supported by 20% rise in other income to Rs 24 Cr. Technical View: SKF India Ltd is currently trading at Rs. 1410, down by 7.65 points or 0.54% from its previous closing of Rs. 1417.65 on the BSE. The scrip opened at Rs. 1435 and has touched a high and low of Rs. 1448 and Rs. 1391.5 respectively. So far 11267(NSE+BSE) shares were traded on the counter. The stock is currently trading below its 200 DMA.