 "AIA Engineering hits new high post Q3 results")
AIA Engineering hit a new high of Rs 1,442, up 4% on the BSE in intra-day trade, after the company reported 17.6% year on year growth in its consolidated net profit at Rs 120 crore for the quarter ended December 2016 (Q3FY17). The company had profit of Rs 102 crore in the year ago quarter.
Total income from operations during the quarter under review grew 19% at Rs 608 crore against Rs 509 crore in the corresponding quarter of previous fiscal.
EBITDA (earnings before interest, tax, depreciation and amortization) margin stood at 32.12% in Q3FY17 from 32.82% in Q3FY16.
The company has order book position of Rs 610 crore at the end of December quarter against Rs 844 crore in September quarter.
“The opportunity landscape over medium to long term horizon remaining unchanged with the total addressable annual mining replacement market estimated at around 3 million TPA coupled with a very low penetration of high chrome consumable wear parts in mining. Bulk of future growth is expected to come from outside India and that too mainly in mining segment,” AIA Engineering said in a release.
The stock pares its early morning gain and was trading at Rs 1,408, up 1.6% at 10:20 against 0.04% decline in the S&P BSE Sensex. In past one year, the stock appreciated 87%, outperformed the market, which gain 23% during the period.
Total income from operations during the quarter under review grew 19% at Rs 608 crore against Rs 509 crore in the corresponding quarter of previous fiscal.
EBITDA (earnings before interest, tax, depreciation and amortization) margin stood at 32.12% in Q3FY17 from 32.82% in Q3FY16.
The company has order book position of Rs 610 crore at the end of December quarter against Rs 844 crore in September quarter.
“The opportunity landscape over medium to long term horizon remaining unchanged with the total addressable annual mining replacement market estimated at around 3 million TPA coupled with a very low penetration of high chrome consumable wear parts in mining. Bulk of future growth is expected to come from outside India and that too mainly in mining segment,” AIA Engineering said in a release.
The stock pares its early morning gain and was trading at Rs 1,408, up 1.6% at 10:20 against 0.04% decline in the S&P BSE Sensex. In past one year, the stock appreciated 87%, outperformed the market, which gain 23% during the period.
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