Triveni Engineering & Industries shares fell 3% after the company reported poor Q3 results. As of 9:16 AM, the shares were trading 3.36% lower at Rs 366.00.
The company’s net profit plummeted 69% year-on-year (YoY) to ₹42.6 crore for the quarter ending December 31, 2024, compared to ₹137.4 crore in the same period last year.
Despite the profit drop, revenue from operations saw a modest 3% increase to ₹1,600.3 crore, up from ₹1,553.6 crore in Q3 FY24. However, operating performance took a significant hit, with EBITDA falling 60% to ₹77.1 crore from ₹193 crore in the previous year. The EBITDA margin contracted sharply to 4.8% from 12.4%.
In a strategic move, Triveni Engineering approved the reappointment of Dhruv M Sawhney as Managing Director and Chairman for a five-year term starting March 31, 2025, subject to shareholder approval. The company also announced a ₹60 crore capital expenditure to expand its Power Transmission business.
Triveni Engineering shares opened today at ₹367.60, reaching a high of ₹374.75 and a low of ₹365.30. The stock’s 52-week high stands at ₹536.00, while its 52-week low is ₹267.50.
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