Half-year profit rises 20% while operations consume cash
WABAG · price
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On the reaction day the stock moved 2.1 pts less than Nifty Microcap 250 and 0.2 pts less than its Other Utilities peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Unaudited consolidated second-quarter revenue rose 19% to Rs 8,345 million and profit after tax rose 20% to Rs 848 million. For the half year, revenue rose 18% to Rs 15,685 million, earnings before interest, tax, depreciation and amortization rose 17% to Rs 2,161 million, and profit after tax rose 20% to Rs 1,506 million. The margin eased to about 13.8%. Despite a Rs 160 billion order book, operations used Rs 486 million of cash.
Profit growth, Rs 5.6 billion net cash and the Rs 160 billion order book are positive, but cash used in operations and a lower margin may cap gains.