Its operating profit rose 17% to Rs 17 crore compared to Rs 22.2 crore in the year ago period. As per company sources, it had implemented rate hike in all 12 core markets in Q1. It also said that there has been a drop in variance between peak and non-peak time bands in legacy markets. The company is also improving utilisations in Phase III markets.
MBL director Apurva Purohit said, “I am pleased to inform that our Company continued its trend of delivering stronger than expected EBITDA Margins with this quarter’s margin being 34%. Our top line showed a growth of 8%, on the back of rate hikes in all 12 core markets and improved utilisations in the Phase III stations in accordance with our strategy formulated for the year. Our PAT growth which is more than 3 times of the top line growth at 25% reiterates the fixed cost nature of our business as well as validates the strategic choices we made while bidding, i.e. to expand our geographic footprint, rather than deepen it at unviable costs.”