Navin Fluorine Q1 Results: Profit More Than Doubles
Revenue increased 39% to Rs 523.7 crore.
Navin Fluorine International Ltd.'s profit rose twofold in the first quarter of this financial year. It posted a consolidated profit of Rs 117.2 crore in the quarter ended June.
This is in comparison to profit of Rs 51.2 crore in the same quarter of the previous fiscal, according to its stock exchange notification on Wednesday.
Revenue increased 38.5% year-on-year for the three months ended June, reaching Rs 523.7 crore. Operating income, or earnings before interest, taxes, depreciation, and amortisation, rose two times in the quarter under review to Rs 117.2 crore against Rs 51.2 posted in the same quarter in the previous fiscal. The Ebitda margin expanded to 28.5%.
The quarterly earnings were shared after market hours. The stock settled 0.79% higher at Rs 5,189.60 apiece on the NSE, compared to a 0.14% advance in the benchmark Nifty 50.
Navin Fluorine's shares have risen 37.61% in the last 12 months and 59.89% year-to-date.
Out of 29 analysts tracking the company, 18 maintain a 'buy' rating, seven recommend a 'hold' and four suggest 'sell', according to Bloomberg data. The average 12-month consensus price target of Rs 4,843.63 implies a downside of 6.7%.
