 "Sintex Inds gains post Q2 earnings")
Sintex Industries has moved higher by over 8% at Rs 27.80 bouncing back 12% from intra-day low after reporting a net profit of Rs 73 crore for the quarter ended September 2013 (Q2) against an average analyst estimates of Rs 66 crore. The plastic products maker had profit of Rs 72 crore in a year ago quarter.
Net sales however grew 15% to Rs 1,365 crore in September quarter against Rs 1,186 crore in the corresponding quarter of previous fiscal. Analyst expected average net sales of Rs 1,212 crore for the quarter.
The company said its EBITDA margins remain flat at around 16% during the quarter under review. Textile division see rise EBITDA margin by 241bps, it added.
The stock opened at Rs 26.25 and touched a low of Rs 24.85 on BSE. A combined 27.45 million shares have changed hands on the counter till 1500 hours against an average sub 8 million shares that were traded daily in past two weeks on BSE and NSE.
Net sales however grew 15% to Rs 1,365 crore in September quarter against Rs 1,186 crore in the corresponding quarter of previous fiscal. Analyst expected average net sales of Rs 1,212 crore for the quarter.
The company said its EBITDA margins remain flat at around 16% during the quarter under review. Textile division see rise EBITDA margin by 241bps, it added.
The stock opened at Rs 26.25 and touched a low of Rs 24.85 on BSE. A combined 27.45 million shares have changed hands on the counter till 1500 hours against an average sub 8 million shares that were traded daily in past two weeks on BSE and NSE.
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