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Net sales of Petroleum products, which accounts for 95% of total revenue, stood at Rs 381.77 crore, down by 1% YoY for Sep'16 quarter. PBIT stood at Rs 24.02 crore, up by 76% YoY with PBIT margin at 6.3% as compared to 3.5% for Sep'15 quarter. Net sales of Wind Power segment was up by 24% to Rs 20.84 crore. PBIT stood at Rs 15.28 crore, up by 39% YoY with PBIT margin at 73.3% as compared to PBIT margin of 59.
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Commenting on the current market situation, Amar Ambani, Head of Research, IIFL said, “As we had predicted, indices have declined sharply. Going ahead, we expect Nifty to continue to struggle before a bounce back. Low of 7240 will continue to remain crucial support for the Nifty.”