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05 December, 2023 21:25 IST
Buenaventura Mining Co first-quarter profit jumps 48.79 percent on a YOY basis
Source: IRIS | 22 Jun, 2017, 03.51PM

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Buenaventura Mining Company Inc  (BVN) has reported a 48.79 percent jump in profit for the quarter ended Mar. 31, 2017. The company has earned $76.25 million, or $0.28 a share in the quarter, compared with $51.25 million, or $0.20 a share for the same period last year.      

Revenue during the quarter grew 22.40 percent to $278.26 million from $227.33 million in the previous year period. Gross margin for the quarter expanded 643 basis points over the previous year period to 23.94 percent. Total expenses were 91.69 percent of quarterly revenues, down from 94.27 percent for the same period last year. This has led to an improvement of 258 basis points in operating margin to 8.31 percent.

Operating income for the quarter was $23.12 million, compared with $13.03 million in the previous year period.

However, the adjusted EBITDA for the quarter stood at $178.14 million compared with $146.79 million in the prior year period. At the same time, adjusted EBITDA margin contracted 55 basis points in the quarter to 64.02 percent from 64.57 percent in the last year period.

Operating cash flow drops significantly Buenaventura Mining Company Inc  has generated cash of $19.37 million from operating activities during the quarter, down 88.18 percent or $ 144.53 million, when compared with the last year period.

The company has spent $57.36 million cash to meet investing activities during the quarter as against cash outgo of $51.92 million in the last year period.

Cash flow from financing activities was $128.03 million for the quarter as against cash outgo of $14.09 million in the last year period.

Cash and cash equivalents stood at $170.58 million as on Mar. 31, 2017, down 2.24 percent or $3.90 million from $174.48 million on Mar. 31, 2016.

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