Shares of Trent on Friday surged over 7 per cent to hit a fresh 52-week high of Rs 638 apiece on the BSEafter the company announced third quarter results of the financial year 2019-20 (FY20).
The company's consolidated revenue from operations jumped 45 per cent year-on-year (YoY) to Rs 988 crore. Total income during the quarter came in at Rs 1,028 crore, up 49 per cent YoY.
Net profit of the company increased 21.5 per cent YoY to Rs 54 crore against Rs 44 crore in the year-ago quarter.
Earnings per share (EPS) of the company stood at Rs 1.52 against Rs 1.33 in the year-ago period.
At 10:07 am, the stock was trading over 6 per cent higher at Rs 632 apiece on the BSE. In comparison, the benchmark S&P BSE Sensex was trading at 41,247 levels, down 59 points or 0.14 per cent.
"Factoring acceleration in Zudio’s growth and profitability, we raise our FY20-22E earnings before interest, tax, depreciation, and amortisation (EBITDA) by 3-10 per cent and increase our target multiple to 30x EV/E (earlier 28x) and raise our target price to Rs 685 per share (earlier: Rs 595) based on 30xFY22E EV/E," said ICICI Securities in a result review note.
"We model-in strong 35 per cent EBITDA (pre-IndAS 116) CAGR over FY19-FY22E with EBITDA margin expansion of nearly 130bps to 10.6 per cent by FY22E. Maintain BUY. TRENT remains our preferred pick," the brokerage firm added.
The company's consolidated revenue from operations jumped 45 per cent year-on-year (YoY) to Rs 988 crore. Total income during the quarter came in at Rs 1,028 crore, up 49 per cent YoY.
Net profit of the company increased 21.5 per cent YoY to Rs 54 crore against Rs 44 crore in the year-ago quarter.
Earnings per share (EPS) of the company stood at Rs 1.52 against Rs 1.33 in the year-ago period.
At 10:07 am, the stock was trading over 6 per cent higher at Rs 632 apiece on the BSE. In comparison, the benchmark S&P BSE Sensex was trading at 41,247 levels, down 59 points or 0.14 per cent.
"Factoring acceleration in Zudio’s growth and profitability, we raise our FY20-22E earnings before interest, tax, depreciation, and amortisation (EBITDA) by 3-10 per cent and increase our target multiple to 30x EV/E (earlier 28x) and raise our target price to Rs 685 per share (earlier: Rs 595) based on 30xFY22E EV/E," said ICICI Securities in a result review note.
"We model-in strong 35 per cent EBITDA (pre-IndAS 116) CAGR over FY19-FY22E with EBITDA margin expansion of nearly 130bps to 10.6 per cent by FY22E. Maintain BUY. TRENT remains our preferred pick," the brokerage firm added.
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