Kaveri Seed Company Q2FY18 standalone net profit rises 169.7% yoy

Kaveri Seed Co. Ltd reported its standalone result for Q2FY18.

Its standalone revenue for the quarter came in at Rs. 69.6 crore, registering 2.7% yoy increase.

EBITDA for the quarter fell by 33.2% yoy to Rs. 13 crore with a corresponding margin contraction of 1007 bps. EBITDA margin for the quarter stood at 18.7%. This margin contraction was mainly driven by ~60% yoy increase in cost of material consumed.

The PAT for the quarter came in at Rs. 20.9 crore, yoy increase of 169.7%. This was driven by decline in tax expense by 25% yoy.

Technical View:

Kaveri Seed Company Ltd is currently trading at Rs. 596.85, up by 20.7 points or 3.59% from its previous closing of Rs. 576.15 on the BSE.

The scrip opened at Rs. 579.10 and has touched a high and low of Rs. 608 and Rs. 568.85 respectively. So far 19,63,434(NSE+BSE) shares were traded on the counter. The stock is currently trading below its 200 DMA.