Graphite India stock down 10-pc despite strong results

Shares of Graphite India Limited closed 10 percent lower even after the company posted strong Q3FY19 numbers for the period ended 31-December-2018.

The company reported a consolidated net profit of Rs 764 crore, up 112.80 percent on Year-on-year-basis (YoY). Revenue was at Rs 1855 crore, which is higher  81 per cent YoY, while EBITDA figured at Rs 1,083 crore, up 99.4%  year on year and  EBITDA margin was down 100 bps sequentially at 62 percent.

Graphite India share ended at Rs435.05 down by Rs48.30 or 9.99 percent from its previous opening price of Rs482 on the NSE, whose benchmark Nifty50 plunged 54.80 pts to 10,881 and Sensex declined 151.45 pts to 36,395 on closing.

Graphite India Limited is the pioneer in country for the manufacture of Graphite. The company is significantly engaged in the production of Graphite Electrodes, Graphite & Carbon Products and allied Processing.