Godawari Power & Ispat shares were locked in the upper circuit of 5 per cent at Rs 1,777.65. Also, it’s a new high on the BSE in intra-day trade on Wednesday after reporting solid earnings for the quarter ended June 2021 (Q1FY22).
The company reported an over 16-fold year-on-year (YoY) jump in its standalone net profit at Rs 403 crore, on the back of healthy operational performance. It had reported a profit of Rs 25 crore in the year-ago quarter.
In Q1FY22, revenue from operations grew 96 per cent YoY at Rs 1,126 crore against Rs 574 crore in the corresponding quarter of the previous fiscal. The company recorded its highest-ever quarterly export turnover of Rs 639 crore during the quarter. It has reported the highest ever iron ore production of 559 km and the tallest steel billets production of 115 km.
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Ebitda(earnings before interest, taxes, depreciation, and amortization) was up 354 per cent YoY at Rs 573 crore. Ebitda margins improved to 50.9 per cent from 16.9 per cent in Q1FY21 and 37.9 per cent in Q4FY21.
Stock Covered in the news
