Posted Healthy numbers for Q1FY23ZFCVINDIA - 15498 Change: -188.25 (-1.20 %)
News: Company posted healthy set of numbers with total operating income for the quarter came in at Rs 798.4 crores, up 2% QoQ. EBITDA for the quarter stood at Rs 98.7 crore with margins coming at 12.4% up 100 bps QoQ. PAT for the quarter ended stood at Rs 62.4 crore, up 10% QoQ.
Views: Company begins year on positive note with sequential topline growth ahead of M&HCV volume prints. Margin performance was real surprise aided by gross margin expansion & savings realised under employee expenses. Going forward with cyclical recovery underway in the CV space we expect the company to report healthy and profitable growth going forward.