Ramco's 2Q profits up by 111% - Views on News from Equitymaster

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Ramco's 2Q profits up by 111%

Oct 24, 2000

Ramco System's remarkable profit growth in 2QFY01 was driven by higher other income. The company's operating margins have declined by more than 50% due to rising manpower cost.

(Rs m) 2QFY00 2QFY01 Change
Sales 292 385 31.9%
Other Income 1 27 4045.3%
Expenditure 213 338 58.7%
Operating Profit (EBDIT) 79 47 -40.3%
Operating Profit Margin (%) 27.0% 12.2%  
Interest 25 5 -79.2%
Depreciation 13 13 -5.0%
Profit before Tax 41 56 37.3%
Other Adjustments 27 27  
Tax - -  
Profit after Tax/(Loss) 14 29 111.4%
Net profit margin (%) 4.7% 7.5%  
No. of Shares (eoy) (m) 4.7 7.8  
Diluted number of shares 7.8 7.8  
Diluted Earnings per share* 7.1 15.0  
*(annualised)      
P/E (at current price) 128 61  

The company's profit growth was also fueled by 80% decline in interest expenditure. As a result net margins of the company increased to 7.5%.

At the current market price of Rs 905 Ramco is trading at a P/E of 61 times its 2QFY01 annualised earnings.

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