The parade of some of the most interesting first-quarter corporate performances continues. Here is the evidence:
Vivimed Labs:
In the first quarter of the current financial year, the company reported its best Ebitda (earnings before interest, taxes, depreciation and amortisation) in four quarters of nearly Rs 67 crore, rising from Rs 51 crore in the immediately preceding quarter. Even as this should have been good enough, there is a remarkable bonus: Interest outflow has declined sharply from Rs 24.51 crore to Rs 15.21 crore within a space of a single quarter (the lowest in five quarters) - interest cover of four-plus.
Prime Securities:
The Mohinder 'comeback' Amarnath of the stock market. The company encountered dramatic roller-coasters in the last decade. This is what it has translated into: No debt or broking income; only capital market advisory services. Prime is now an advisory pure-play, possibly the only one of its kind in the markets.
Venky's:
My first suspicion when I saw the company's performance was that there must have been a typo error. Consider the Ebitda sequence in the last five quarters: Rs 53 crore, Rs 28 crore, Rs 28 crore, Rs 55 crore and Rs 91 crore. In the last quarter, the company generated a profit larger than the combination of the two preceding quarters. What I love is the sequential interest outflow: Rs 20 crore, Rs 21.5 crore, Rs 22 crore, Rs 21 crore and Rs 21 crore (other income has been averaging Rs 8-10 crore per quarter incidentally).
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