September quarter revenue up 34%, profit after tax up 60%; merger approved
AVANTEL · price
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On the reaction day the stock moved 2.3 pts less than Nifty Microcap 250 and 2.9 pts less than its Aerospace & Defense peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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For the group, September-quarter revenue was Rs 7,442.07 lakh, up 34% from Rs 5,541.83 lakh, while profit after tax rose 60% to Rs 680.74 lakh from Rs 426.63 lakh. Half-year revenue rose 35% to Rs 14,484.23 lakh and profit after tax rose 62% to Rs 1,218.94 lakh. Auditor review was unmodified, but operating cash flow was negative Rs 172.07 lakh. The board also approved merging wholly owned Imeds Global into Avantel, subject to approvals.
Strong profit growth helps, but negative operating cash flow and health care subsidiary losses are risks. The merger may simplify the group.