SPEL Semiconductor Limited
announced its Q2 FY 2017-18 results. Following are the highlights:
• Revenue of ₹11.43Crs, up 25.74% compared to Q2 FY 2016-17,
however a drop of 2.7% as compared to Q1 FY 2017-18. This is due to GST
implementation in July which affected our working capital.
• EBITDA-adjusted ₹245.86L, up 183% compared to Q1 FY 2017-18
Q2 FY 2017-18 has been rewarding. The modest improvement trend is
expected to continue in Q3 and results will improve on a full year
basis.
Board has taken note of revenue improvement with many of our top
Customers and the underlying business trends. Our innovation at business
has started to gain traction and we are close to realizing our annual
cost reduction milestone. It will take time to fully realize the
benefits from our near and long-term initiatives in this highly
competitive market, but with the right team in place we are poised to
accelerate the pace of our progress. The Board is also contemplating
strategic initiatives to consolidate and improve business. |