West Coast Paper Mills announced Q3FY24 results:
Consolidated Q3FY24:
- Revenue: The company reported a revenue of Rs 1,045.13 crore in Q3FY24, which marks a decrease from the previous quarter's revenue of Rs 1,193.84 crore, translating to a QoQ change of -12%.
- EBIDTA: Earnings before interest, tax, depreciation, and amortization (EBIDTA) stood at Rs 258.97 crore in Q3FY24, a substantial drop from Rs 345.55 crore in Q2FY24. This represents a QoQ decrease of -25%.
- PAT (Profit After Tax): The Profit After Tax for Q3FY24 was reported as Rs 158.76 crore. This is down from Q2FY24, which was Rs 218.54 crore, showing a -27% change.
- PAT Margin: The PAT margin for the quarter was 15%, indicating a decrease of 300 basis points from the 18% margin achieved in Q2FY24.
- EPS (Earnings Per Share): The EPS for Q3FY24 was Rs 20.58, a noticeable drop from Rs 28.88 in Q2FY24, indicating a -29% change.
Standalone Q3FY24:
- Revenue: The standalone revenue for Q3FY24 was Rs 564.73 crore, experiencing a -20% change from the previous quarter's revenue of Rs 706.36 crore.
- EBIDTA: Earnings for Q3FY24 on a standalone basis came to Rs 124.55 crore, a sharp decline of -45% from Q2FY24, which had an EBIDTA of Rs 227.92 crore.
- PAT: The standalone Profit After Tax decreased to Rs 77.64 crore in Q3FY24 from Rs 155.61 crore in the prior quarter, reflecting a change of -50%.
- PAT Margin: The PAT margin on a standalone basis was 14%, showing a significant decrease of 800 basis points from the previous quarter's 22%.
- EPS: Earnings Per Share was at Rs 11.76 for the quarter, down by -50% from Q2FY24's EPS of Rs 23.56.
Commenting on the results S.K. Bangur, Chairman & Managing Director, West Coast Paper Mills, said: “During the Current Quarter, in the first week of November, there was a major breakdown in one of the TG sets at the company’s paper division at Dandeli, Karnataka. Accordingly, the working of the Company was adversely impacted. The TG Set got restarted in the last week of December and now working normally.”