GNA Axles - Q2FY21 Results - Angel Broking

Mr. Jyoti Roy - DVP - Equity Strategist, Angel Broking Ltd

"GNA Axles reported a 13.2% YoY de-growth in revenues to Rs. 222 crore for Q2FY21, as compared to revenues of Rs. 256 crore for Q2FY20. EBIDTA for the quarter stood at Rs. 41.7 crore up 3.1% YoY while EBIDTA margins expanded by 298bps to 18.8%. Net profit for the quarter stood at Rs. 22.9 crore as compared to profit of Rs. 22.3 crore in the corresponding quarter previous year. While revenues were down YoY they were up by 173.1% QoQ. Gradual opening up of the economy led to the strong sequential rebound in revenues while margin expansion was driven due to lower raw material and continued tight control on other expenses. Overall the company has posted a decent set of numbers given the challenges."

Shares of G N A Axles Ltd was last trading in BSE at Rs.244.95 as compared to the previous close of Rs. 238.6. The total number of shares traded during the day was 42656 in over 1778 trades.

The stock hit an intraday high of Rs. 249.4 and intraday low of 234.8. The net turnover during the day was Rs. 10439068.

Source : Equity Bulls

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