Brigade Enterprises Q4FY18 net profit slumps 81%; Stock sinks over 6%
Brigade Enterprises, the flagship company of the Brigade Group, in its Q4FY18 results yesterday reported an 81% drop in net profit (with profit share of associates). The shares dropped over 6% in intra-day trades today.
In its Q4FY18 results reported yesterday post market hours, Brigade reported a sharp decline in all three key parameters of revenue, EBITDA, and PAT missing consensus estimates.
BEL’s revenue for Q4FY18 from operations declined by 21.7% yoy to Rs433.54cr as against Rs553.74cr in Q4FY17, missing the consensus estimates of Rs529.9cr. The company’s EBITDA margin has contracted by 470bps yoy to 31.1% as against 35.8%.
The EBITDA fell by 32% yoy to Rs134.78cr as against Rs198.17cr, falling short of the consensus estimate of Rs186.1cr. The company incurred a one-time expense of Rs11.54cr towards stamp duty related to transferring its hospitality and other allied businesses to its wholly owned subsidiaries.
Brigade Enterprises Ltd is currently trading at Rs241.30 down by Rs18.15 or 7% from its previous closing of Rs259.45 on the BSE.
On a one MISSED CALL on @9039006355 you can have your Free Trials for two days in Share Market so why are you waiting for, Hurry up! SUBSCRIBE US >> Bonaz Capital