PPAP Automotive Q2 net profit rises 66%

PPAP Automotive Q2 net profit rises 66%

 

PPAP Automotive Limited reported financial results for the second quarter and half year ended September 30, 2017.

The company reported Net Profit of Rs. 9.21 crore for Q2FY18, up by 65.65%, as compared to Rs. 5.56 crore in the corresponding quarter of last fiscal.

The total Income for the quarter ended September 30, 2017 stood at Rs. 97.46 crore, as compared to Rs. 81.70 crore in the same period last year. PPAP’s Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) in Q2FY18 stood at Rs. 21.01 crore, up 35.90%. The company’s EBITDA margin stood at a robust 21.56% in Q2FY18.

Earnings per share (EPS) for the quarter ended Q2FY18 stood at Rs. 6.58, as compared with Rs. 3.97 for the quarter ended Q2FY17.

For the half year period ended September 30, 2017, PPAP’s net profit jumped by 66.37% to Rs. 15.14 crore, as compared to Rs. 9.10 crore of the year ago period. The company’s PAT margin improved from 5.61% in H1FY17 to 8.43% in H1FY18.

Total Income for H1FY18 stood at Rs. 179.55 crore, as compared to Rs. 162.36 crore during H1FY17. PPAP’s EBITDA in H1FY18 stood at Rs. 36.72 crore, as compared to Rs. 27.73 crore during H1FY17.

For H1FY18, EPS stood at Rs. 10.81 as against Rs. 6.50 in H1FY17.

The company has started supply of injection molded parts for Honda Scooters.

The Board of Directors have declared an interim dividend of 20.00% i.e. Rs. 2.00 per share (previous year 12.50% i.e. Rs. 1.25 per share) on equity shares of face value Rs. 10/- each. The record date for the payment of interim dividend has been fixed as 13th November, 2017.

Ajay Kumar Jain, the Chairman and Managing Director, PPAP Automotive Limited, said, “The Indian Automotive industry has done well during the festive season despite of various transformative challenges in our country. We are continuing with our journey to grow faster than the industry, keeping a strong focus on improving our fundamentals and enhancing our customer base”.