Insecticides India, Mangalam Drugs up 4-6% on strong Q2 numbers
Shares of Insecticides India and Mangalam Drugs rose 4.-6 percent intraday Friday on the back of robust Q2 numbers.
Mangalam Drugs’ second quarter profit grew by 31.4 percent year-on-year to Rs 6.7 crore, compared with Rs 5.1 crore in year-ago.
Revenue during the quarter increased 8.8 percent to Rs 83.1 crore, against Rs 76.4 crore in same quarter last fiscal.
EBITDA (earnings before interest, tax, depreciation and amortisation) surged 39.8 percent year-on-year to Rs 14.8 crore and margin expanded sharply to 17.8 percent from 13.9 percent.
Insecticides India’s Q2 net profit was up 28.7 percent at Rs 36.1 crore against Rs 28.1 crore, Y-o-Y. Revenue was up 0.7 percent at Rs 416.5 crore versus Rs 413.6 crore.
EBITDA rose 17.7 percent at Rs 55.6 crore and EBITDA margin was up 200 bps at 13.4 percent.
At 14:08 hrs Mangalam Drugs & Organics was quoting at Rs 157.30, up 3.35 percent and Insecticides India was quoting at Rs 888.50, down 1.10 percent on the BSE.
Posted by Rakesh Patil