Prima Plastics slips 9 per cent after disappointing result
Prima Plastics reported disappointing numbers for the quarter ended December 31, 2017 on Wednesday. The company's standalone revenue for the quarter came in at Rs. 22.8 crore, registering 1.1 per cent yoy decline.
EBITDA for the quarter rose by 5.8 per cent yoy to Rs. 2 crore with a corresponding margin expansion of 58 bps. EBITDA margin for the quarter stood at 8.8 per cent. The PAT for the quarter came in at Rs. 1.12 crore, yoy decline of 70.4 per cent. This was due to jump in interest expenses by 236.8 per cent yoy. Also, sharp decline in other income from Rs. 3.66 crore to Rs. 0.24 crore contributed to the decline in bottomline.
Prima Plastics Limited is engaged in the business of manufacturing of plastic molded articles. The Company designs and manufactures plastic molded furniture from chairs, baby chairs, dining tables, stools and teapoys in a range of colors.
On Thursday, the stock opened at Rs. 213 and slipped to intra-day low of Rs. 195, reacting on the disappointing numbers.