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News Topical, Digital Desk : SMS Pharmaceuticals and Mangalam Cement, two companies included in the BSE Smallcap Index, have released their second-quarter results. Both companies reported a sharp jump in profits, along with double-digit revenue growth. Mangalam Cement's profits increased six-fold compared to last year, while SMS Pharmaceutical's profits increased by 76 percent. The market saw a decline on Friday, although both stocks closed in the green. The impact of the results may be seen on the stocks in the next session.
Mangalam Cement's Q2 net profit was ₹20.1 crore, compared to ₹3.28 crore in the same period last year. This represents a six-fold increase in profits. Revenue increased 10% compared to last year to ₹394.9 crore, compared to ₹359.1 crore last year. EBITDA increased 44.5% to ₹42.9 crore, compared to ₹29.71 crore last year. The company's margin in the last quarter was 10.87%, compared to 8.27% last year. The company's board has approved a proposal to open a branch in Dubai, which will procure pet coke and coal. The stock closed at 767 on Friday, up more than 1%.
SMS Pharmaceuticals reported a 76.42% increase in net profit to ₹25.14 crore (approximately $2.5 billion) in Q2 2020, compared to ₹14.25 crore (approximately $1.96 billion) in Q2 2020. Revenue increased 23.2% to ₹242.4 crore (approximately $1.96 billion) compared to ₹196.7 crore (approximately $1.96 billion) in Q3 2020. EBITDA increased 51.8% to ₹48.34 crore (approximately $3.18 billion) compared to ₹31.85 crore (approximately $1.94 billion) in Q3 2020. Margin was 19.94% (approximately $1.94 billion) compared to 16.19% in the same quarter last year. The stock closed at ₹289 (approximately $2.89 billion) on Friday, up over 1%.
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