Amber Enterprises witnessed a significant uptick in its shares, soaring over 7 percent on Wednesday, October 25, reaching the day’s high of Rs 3,000 apiece. The surge in the stock price was fueled by the positive market response to upgraded price targets set by global brokerages.
By 12:04 p.m., Amber Enterprises shares were trading 5.66 percent higher on the BSE at Rs ₹2,952.05 apiece, contributing to a market capitalization of Rs 9,982.1 crore at the same time.
During the second quarter of the current fiscal year, Amber Enterprises demonstrated a resilient performance. The company reported a consolidated loss of Rs 7 crore, a slight increase from the Rs 2.5 crore loss in the corresponding quarter last year. However, the standout achievement was the robust revenue growth, indicating a healthy uptick of 24 percent at Rs 927 crore, compared to Rs 750 crore in the same period last year.
Furthermore, the company’s earnings before interest, depreciation, and amortization (EBITDA) experienced a substantial surge, standing at Rs 59.6 crore as opposed to the previous year’s Rs 36.7 crore, marking a notable 62 percent increase.
Additionally, Amber Enterprises exhibited improved margins, growing from 4.89 percent to 6.42 percent year-on-year, underlining the company’s operational efficiency and financial strength. Investors responded positively to these promising Q2 results, contributing to the upward momentum in Amber Enterprises’ stock prices.
