 "SP Apparels' IPO subscribed 2.65 times")
S P Apparels (SPAL) is locked in upper circuit for the second straight day, up 5% at Rs 339 on the BSE, after the company's consolidated net profit more than doubled to Rs 15.6 crore for the quarter ended June 30, 2016 (Q1FY17). The textile company had profit at Rs 6.7 crore in the same quarter last year.
The company’s operating revenue during the quarter grew 33.4% at Rs 162 crore against Rs 122 crore in the corresponding quarter of previous fiscal.
The ebitda (earnings before interest, taxes, depreciation and amortisation) margin improved 410 basis points at 20.8% in Q1FY17, up from 16.7% in the previous year quarter.
“Ebitda boosted by mark-to-market gain of Rs 4.8 crore in Q1FY17. EBITDA margin improved 120 basis points compared to Q1FY16 even after adjusting for mark-to-market gain,” SPAL said in a press release.
SPAL specializes in the highly challenging industry of manufacture and export of knitted garments for infants and children.
The company made its debut on the stock exchanges on August 12. It raised Rs 239 crore through initial public offer (IPO), by issuing share at price of Rs 268 per share.
Till 01:07 pm, a combined 673,454 shares changed hands and there were pending buy orders for 93,733 shares on the NSE and BSE.
The company’s operating revenue during the quarter grew 33.4% at Rs 162 crore against Rs 122 crore in the corresponding quarter of previous fiscal.
The ebitda (earnings before interest, taxes, depreciation and amortisation) margin improved 410 basis points at 20.8% in Q1FY17, up from 16.7% in the previous year quarter.
“Ebitda boosted by mark-to-market gain of Rs 4.8 crore in Q1FY17. EBITDA margin improved 120 basis points compared to Q1FY16 even after adjusting for mark-to-market gain,” SPAL said in a press release.
SPAL specializes in the highly challenging industry of manufacture and export of knitted garments for infants and children.
The company made its debut on the stock exchanges on August 12. It raised Rs 239 crore through initial public offer (IPO), by issuing share at price of Rs 268 per share.
Till 01:07 pm, a combined 673,454 shares changed hands and there were pending buy orders for 93,733 shares on the NSE and BSE.
