Nahar Industrial Enterprises witness significant drop in PAT
Nahar Industrial Enterprises reoprted its third quarter earnings of FY18 on Wednesday.
Nahar Industrial Enterprises standalone revenue for the quarter came in at Rs 452.2 crore, registering an increase of 16.7 per cent YoY. This was primarily driven by growth of 18.5 per cent YoY in the textile segment revenue, which accounts for more than 90 per cent of total revenue.
The company's EBITDA for the quarter fell by 16.6 per cent YoY to Rs. 35.81 crore, with a corresponding margin contraction of 316 bps. The EBITDA margin for the quarter stood at 7.9 per cent. This was due to higher cost of materials consumed and power & fuel. The PAT for the quarter came in at Rs. 4.83 crore, a decline of 68.3 per cent YoY.
Nahar Industrial Enterprises Limited is a textile manufacturing company. The company operates in two segments, namely, sugar and textiles. The textile segment offers yarn and fabric, while the sugar segment is engaged in producing sugar.
On Thursday, the stock of Nahar Industrial Enterprises opened gap down at Rs. 96.05 as against previous close of Rs. 98.55.