Q1FY19 Result: Ganesh Benzoplast reports strong numbers
Ganesh Benzoplast reported strong results for the quarter with chemical business witnessing good growth.
The revenue for the quarter rose by 29 per cent yoy to Rs. 46 crore in Q1FY19 as against Rs. 36 crore in the corresponding quarter last year. This was largely due to substantial rise in its chemical business to Rs.25 crore in Q1FY19 as against Rs.15 crore in the corresponding quarter last year.
The EBITDA for the quarter rose by 16 per cent to Rs. 14 crore in Q1FY19 as against Rs. 11.9 crore in the corresponding quarter last year. The EBITDA margins for the quarter contracted by 330 bps to 29.7 per cent in Q1FY19 as against 33.1 per cent in Q1FY18.
The net profit for the quarter rose by 22.4 per cent yoy to Rs. 8 crore in Q1FY19 as against Rs. 6.7 crore in the corresponding quarter last year.
Meanwhile, the stock of Ganesh Benzoplast was trading at Rs.70.03 mark, down by 2 per cent on Thursday
.