ITD Cementation Q1 Results: Profit Up 92%, Beats Estimates

ITD Cementation India Ltd. reported a 92% uptick in its net profit on a yearly basis for the first quarter of this financial year, beating street expectations.

The engineering and construction company reported a bottom line of Rs 100 crore in the quarter-ended June, as compared with Rs 52 crore in the same quarter of the previous fiscal, according to its stock exchange notification. This compares with the Rs 88-crore analysts' estimate tracked by Bloomberg.

The company's revenue grew by 30% year-on-year to Rs 2,381 crore. Analysts tracked by Bloomberg had pegged the top-line at Rs 2,202 crore.

Operating income, or earnings before interest and tax depreciation and amortisation, grew 36.4% on a yearly basis to Rs 221 crore, while the Ebitda margin expanded to 9.3% from 8.8% in the corresponding quarter of the last fiscal. The analyst consensus estimates for Ebitda and Ebitda margin tracked by Bloomberg stood at Rs 231 crore and 15%, respectively.

Shares of the company rose by 2.09% to close at Rs 483.30 apiece, as compared to a 1.11% advance in the benchmark Sensex.