Afcons Infrastructure shares declined more than 3% in trade after the company reported its December quarter (Q3) earnings, with profit witnessing a sharp year-on-year decline despite improvement in operating margins.
For the quarter under review, revenue from operations fell 7.33% to ₹2,975.77 crore compared with ₹3,211.10 crore in the corresponding quarter last year. The decline in topline came even as operating performance showed resilience.
Earnings before interest, tax, depreciation and amortisation (EBITDA) rose 12.57% year-on-year to ₹410.28 crore from ₹364.45 crore. EBITDA margin improved by 243 basis points to 13.78% versus 11.34% in the year-ago period, indicating better cost efficiencies and execution strength during the quarter.
However, net profit declined 34.77% to ₹97.09 crore compared with ₹148.85 crore in the same quarter last year. The sharp drop in bottom line weighed on investor sentiment, leading to selling pressure in the stock.
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