Hathway Cable, Excel Crop Care up 20% on stellar Q2 numbers

Moneycontrol News

Shares of Hathway Cable and Datacom locked at 20 percent upper circuit and Excel Crop Care gained as much as 20 percent intraday Friday on the back of stellar performance by the companies in the quarter ended September 2017 (Q2FY18).

Hathway Cable has turned profitable in the quarter ended September 2017 as it has reported net profit at Rs 14 crore against loss of Rs 40.4 crore in a year ago period.

Meanwhile, revenue declined 59 percent at Rs 131.1 crore versus Rs 320 crore.

UBS has a buy call on the stock with a target price of Rs 50 per share post earnings.

Margin improvement continued through second quarter of FY18, it said, adding the pick-up in subscriber addition is a key to revenue growth in broadband subscription.

Excel Crop Care has registered a whopping 68 percent growth year-on-year in profit at Rs 45.1 crore and 43 percent jump in revenue at Rs 384.7 crore for the quarter ended September 2017.

EBITDA (earnings before interest, tax, depreciation and amortisation) grew by 72 percent year-on-year to Rs 72.2 crore and margin expanded by 320 bps to 18.8 percent in Q2.

At 09:42 hrs Excel Crop Care was quoting at Rs 2,050, up 16.09 percent, touched a 52-week high of Rs 2,119.05.

Hathway Cable and Datacom was quoting at Rs 38.25, up 19.91 percent with pending buy orders of 140,999 shares, with no sellers available on the BSE.