Geometric becomes asymmetric
Geometric declared its Q4FY15 numbers yesterday and it was disappointing to say the least. The company actually posted a loss at PAT levels of Rs.94 lakh for the quarter but after prior period adjustments of Rs.4 crore, the company ended with an adjusted net profit of Rs.3 crore, down 80% (QoQ). EBITDA margin more than halved from 14.6% to 6.6%.
Revenue in US$ for the quarter was at $43 million, down 8% (QoQ) and in rupee terms, it was down 7% at Rs.268 crore. Apart from the falling topline, the company had exceptional expense to the tune of Rs.6 crore. It had Rs.9 crore impact on account of correction on account of switch over to new ERP. There was also a forex loss of Rs.3 crore.
The stock was down initially almost 14.5%, hitting an intra day low at Rs.122.75 and now it has recouped a bit though continues to remain in the red, down 11% at Rs.127.55.