Shares of Sanghvi Movers Limited fell over 6% in early trade on February 9 after the company reported its Q3 consolidated results, with investors reacting negatively to a decline in net profit and margin compression despite double-digit revenue growth.
On a year-on-year basis, Sanghvi Movers’ consolidated revenue rose 13.4% to Rs 236 crore compared with Rs 208 crore in the same quarter last year. EBITDA increased 12.4% to Rs 85.3 crore from Rs 76 crore, while EBITDA margin slipped by 30 bps to 36.2% versus 36.5% a year ago. Net profit declined 12.4% to Rs 29 crore, down from Rs 33.1 crore in the corresponding quarter.
The stock remained under pressure during the morning session. As of 9:40 AM IST, the share price was trading well below the previous close of Rs 318.20. The stock opened at Rs 308.10, touched an intraday high of Rs 312.00 and fell to a low of Rs 298.45. Over the past year, Sanghvi Movers has traded between a 52-week low of Rs 206.00 and a 52-week high of Rs 411.90.
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