IL&FS Transportation Networks - Q4FY13 Result - Microsec

IL&FS Transportation Networks Ltd (ITNL) announced its Q4FY13 results as well as annual results on May 07, 2013.

The Company's Net Sales arrived at INR1930.52 crore, which was up by~ 9% on QoQ basis but down by 3% up on YoY basis. The EBITDA for the quarter was INR471.73 crore, which increased by 3.19% on YoY basis and by 4.88% on QoQ basis. The company posted a consolidated Net profit of INR178.45 crore, which increased by 71% on QoQ basis.

During FY13 the company posted a revenue of INR6644.90crores which is a growth of ~19% while EBITDA grew by 25.58percent to INR1840.44crores.EBITDA margins also improved by 156bps from 26.14% to 27.70%. However the consolidated PAT saw a tepid growth of ~4.68% due to the rise in finance costs coupled with the decline in the other income steeply during the financial year.

We continue to remain bullish on the scrip and maintain our "BUY" recommendation with a price target of INR245.00 derived from assigning a P/E multiple of 8.8x.

Source : Equity Bulls

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