Sharres of Apar Industries gained on Thursday, October 29, after the company reported its second quarter results.
It reported a profit after tax (PAT) increased to ₹447 crore compared to a CNBC-TV18 poll of ₹339 crore. It was also up 77.6% from the previous year’s ₹51.7 crore.
Its revenue was in-line with estimates at ₹6,931 crore in the September quarter compared to expectations of ₹6,924 crore. It was up 21.3% from ₹5,715 crore in the second quarter last year.
The company’s earnings before interest, taxes, depreciation and amortization (EBITDA) increased to ₹720 crore from estimates of ₹600 crore. It was also up 47.5% from the previous fiscal’s ₹488 crore.
Its EBITDA margin expanded to 10.4% from the CNBC-TV18 poll of 8.7% and was up 190 basis points from 8.5% in the year-ago period.
The company also informed the exchanges that its board of directors has approved further investment of up to $100 million in its wholly-owned subsidiary Petroleum Specialties Pte Ltd.
Shares of Apar Industries gained 4.8% to hit an intraday high of ₹16,160 apiece. The stock was up 1.6% at ₹15,662 apiece at 2.07 pm. It has fallen 12.2% in the past month but has gained 26.8% in the last six months and 88.2% this year, so far.
Apar Industries shares gain 5% after Q2 profit, EBITDA beat estimates, margins expand by 190 basis points