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You are here : IndiaNotes >> Research & Analysis >> Companies >> Tulip Telecom Ltd. >> Research

Tulip Telecom Q1FY13: Higher revenues and margins, maintain buy

Jaypee | Published: 16 Aug, 2012  | Source : ValueNotes.com | Follow Author | Add to my Favourites


During the quarter, Tulip Telecom came out with results much higher than expectations. The revenues came in at Rs7165 mn up 8.3% q-o-q and 9.6% y-o-y and were above expectations. The EBITDA was also above expectations coming in at Rs1920 mn. The EBITDA margin was much higher than expectations at 26.80% (v/s 25.5%). The PAT also came in above expectations (extraordinary income of Rs616 mn during the quarter) at Rs1164 mn as against an expectation of Rs476 mn

Outlook and Valuation: Jaypee has a positive outlook on the company and believes that with a leadership position in the VPN segment, it is well placed to benefit from the growing Enterprise data market. The numbers have been better for the quarter but it is expected to remain subdued for the next couple quarters given the tough environment. The datacenter project is also a robust asset from the long term point of view. Maintain buy rating on the stock with a target price Rs 130 for the stock.

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About Jaypee

Jaypee Capital Services Ltd is a well diversified financial services group having businesses in stocks and currency. Their services include equities, derivatives, e-broking, portfolio management, currency, IPOs and depository services. Jaypee, founded in 1995, was formed with one basic principle in mind to create a professional workforce of youngsters to provide fair and transparent prices and services to the clients and investing public at large.

 

For more information please write in to editor@indianotes.com

Disclaimer: The author has taken due care and caution to compile and analyse the data. The opinions expressed above are only the views of the author, and not a recommendation to buy or sell. Neither the author nor IndiaNotes.com accept any liability whatsoever arising from the use of any of the above contents.

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