Key positives: ~29.7% y-o-y spurt in cable subscription aided by catch-up revenue; 9.4% y-o-y jump in DTH subscription; and IPL losses were stable at Rs 224, Rs 241 million in FY17, even though Sun TV lost the IPL series in F
ICRA’s Q1FY18 revenue dipped 20% due to sale of IT business; excluding which, revenue grew 5%. Ratings segment jumped a strong 9%, led by robust 17% surge in the profitable debt segment and negligible exposure to the SME se
Nagarjuna Construction (NCC) reported 6% y-o-y top-line growth for Q1FY18 to Rs 20.1 billion against estimated Rs 19.8 billion. With EBITDA margin declining ~20bps y-o-y, adjusted PAT at Rs 510 million dipped 2.5% y-o-y.
ITC’s Q1FY18 revenue dip of 1% y-o-y and EBITDA & PAT growth of 6.2% and 7.4% y-o-y, respectively, came in line with our estimates. Amidst GST-related destocking, cigarette and FMCG businesses clocked decent growth.
Just Dial’s reported revenue of Rs 1.9 bn for Q1FY18 moved up 7.8% y-o-y versus Street’s 6.6% estimate, as JD hiked prices in certain cities. Ebitda margin fell by 60 bps q-o-q to 17.1%, but surpassed Street’s 15.7% est
Initial signs of operating leverage benefits were visible in Q1FY18 and benefits will be more prominent when volumes see an uptick in FY19. Volumes can possibly grow upwards of 30% in FY19, leading to a spurt in earnings