IDBI Capital: Safari Industries Logs Weak Q2, Cost Cutting Measures Continue
Travelers wheel luggage after arriving on a flight from London (Photographer Krisztian Bocsi/Bloomberg)

IDBI Capital: Safari Industries Logs Weak Q2, Cost Cutting Measures Continue

Bookmark

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

IDBI Capital Report

Safari Industries India Ltd. reported weaker than expected revenue/profitability in Q2 FY21 as its sales were marred down by weakness in travel and tourism industry.

The company’s net sales fell by 63% YoY at Rs 629 million; Ebitda loss stood at Rs 53 million in Q2 FY21.

Reported net loss was Rs 90 million in Q2 FY21 compared to net profit of Rs 80 million in Q2 FY20.

Interestingly, despite the Ebitda loss of Rs 353 million in H1 FY21, its operating cash flow was positive at Rs 222 million in H1 FY21 on improvement in working capital.

Click on the attachment to read the full report:

IDBI Capital Safari Industries Q2FY21 Result Update.pdf

DISCLAIMER

This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the brokerage and do not represent the views of BloombergQuint.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.