Timken India reports 33 per cent revenue growth
Timken India's standalone revenue for the quarter came in at Rs. 413.84 crore, registering 33.4 per cent yoy increase.
EBITDA for the quarter rose by 30 per cent yoy to Rs. 70.42 crore with a corresponding margin contraction of 45 bps. EBITDA margin for the quarter stood at 17 per cent.
The PAT for the quarter came in at Rs. 34.56 crore, yoy decline of 7.2 per cent. This was due to a sharp decline in other income to Rs. 3.26 crore from Rs. 14.43 crore in corresponding quarter of last year.
With response to this quarterly numbers, the stock of Timken surged on the bourses by almost 2.8 per cent to touch day high of Rs. 544.7 apiece. At 10:33 hours, the stock was trading at Rs. 538 apiece, up almost 1.50 per cent from its previous close.