BPL tanks 6 per cent as loss widens to Rs. 13 crore
BPL reported its results for the quarter ended March 31, 2018.
The company’s standalone revenue for the quarter came in at Rs. 22.34 crore, registering 15.5 per cent yoy increase.
EBITDA for the quarter came in at Rs. 1.27 crore as compared to an operating loss of Rs. 2.39 crore in the corresponding quarter last year. EBITDA margin for the quarter stood at 5.7 per cent.
The net loss widens to Rs. 13 crore in the quarter as compared to a net loss of Rs. 2 crore in the corresponding quarter last year. This was mainly due to huge deferred tax expense of Rs. 15 crore in this quarter.
Looking at the full year numbers, we see that revenue jumped by 28 per cent to reach Rs.125.24 crore. while EBITDA came in at Rs. 9.85 crore as compared to operating loss of Rs. 22 crore in FY17. The company reported net profit of Rs.7.35 crore, down 86 per cent yoy.
BPL operates in the electronics industry and is engaged in the manufacture and trading of consumer durable goods such as colour televisions, washing machines, refrigerators, microwave ovens, computer monitors, medical technology and other home appliances products.
On Thursday, the stock opened at Rs. 68.60 per share and tanked by almost 6 per cent and made an intraday low of Rs. 64.95 on the BSE.