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Transrail Lighting's net profit doubled to Rs 106 crore in April–June quarter
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Revenue rose 82.49% to Rs 1,637 crore in the first quarter year-on-year
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EBITDA increased 66% to Rs 200 crore, driven by transmission and distribution segment
Transrail Lighting Ltd. share price hit a record high in Thursday's session as its net profit doubled in April–June. Its consolidated net profit advanced 105.02% on the year to Rs 106 crore from Rs 51.7 crore.
Transrail Lightning's revenue advanced 82.49% on the year to Rs 1,637 crore during the first quarter from Rs 897 crore. Its Ebitda advanced 66% on the year to Rs 200 crore during April–June from Rs 120 crore.
The transmission and distribution segment drove growth in revenue. The company shared a higher portion of profit in the joint venture, which supported profitability. Transrail Lightning's order backlog remained robust.
However, Transrail Lightning's Ebitda margin slumped 1,00 basis points to 12% in the first quarter of the current financial year compared to 13% in the corresponding year earlier.
Transrail Lighting share price advanced 3.28% to a record high of Rs 825 apiece. It was trading 2.37% higher at Rs 813.3 apiece as of 11:00 a.m., as compared to 0.60% decline in the NSE Nifty 50 index.
The stock advanced 46.36% in 12 months, and 50.09% on year-to-date basis. Total traded volume so far in the day stood at 4.4 times its 30-day average. The relative strength index was at 65.23.
Two analysts tracking the company maintain a 'buy' rating, according to Bloomberg data. The average 12-month consensus price target implies an upside of 11.4%..
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