The company reported a profit of Rs 449 crore for the December quarter. This implies a jump of 7 percent from the profit of Rs 421.5 crore that it reported during the same quarter of last year.
The revenue jumped 18 percent to Rs 8,812.7 crore from Rs 7,471 crore in Q3 of FY18.
The earnings before interest, taxes, depreciation and amortization (EBITDA) rose 10 percent to Rs 1,391 crore against Rs 1,269 crore last year. The margins have been reported lower at 15.8 percent against 17 percent last year.
Here is gist of what brokerages are saying about the stock.
Brokerage: Deutsche Bank | Rating: Buy | Target: Rs 4,110
The global research firm said that Binani acquisition was a likely drag on the earnings. It is reducing consensus EPS estimates by 13-14 percent to factor in the impact of acquisition.
Brokerage: Citi | Rating: Buy | Target: Cut to Rs 4,450 from Rs 4,700
EBITDA tweaks On Binani include reclassification of incentives, lower price trends, the brokerage house said.
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