Q1 FY22 Infra Sector Earnings Review - Strong Quarter Led By Lower Base: Dolat Capital
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Dolat Capital Report
Our coverage universe of eight stocks reported revenue of Rs 85.1 billion in Q1 FY22, a growth of 57.8% YoY (down 25.3% QoQ) due to lower base impacted by Covid-19 first wave.
Revenue was impacted QoQ as well as the second wave disrupted execution, but not as bad as the first wave.
Ebitda grew 57.7% YoY (down 26.7% QoQ) to Rs 11.5 billion and Ebitda margins was flat YoY (down 20 basis points QoQ) to 13.5%.
Adjusted profit after tax witnessed growth of 263.3% YoY (down 57.8% QoQ) to Rs 4.3 billion in Q1 FY22.
Tax rate stood at 31.2% versus 18.2% (Q1 FY22).
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