Kaynes Technology shares dropped sharply by 16.19% to ₹4,415.35 as of 9:30 AM following its Q3 FY25 financial results, which, while showcasing robust year-on-year (YoY) growth, fell below market expectations.
The company reported a 47.2% YoY increase in net profit, reaching ₹66.4 crore for the quarter ending December 31, 2024, compared to ₹45.1 crore in Q3 FY24. Revenue from operations also rose significantly by 29.8% YoY to ₹661.1 crore, up from ₹509.2 crore in the same period last fiscal.
Operationally, Kaynes achieved a 35% YoY surge in EBITDA, which stood at ₹94 crore compared to ₹69.7 crore in Q3 FY24. The EBITDA margin saw an improvement, rising to 14.2% from 13.7% in the year-ago quarter, reflecting enhanced operational efficiency.
Despite these solid numbers, the results did not meet market expectations, prompting a steep decline in the company’s stock price. Analysts believe that heightened investor expectations, owing to Kaynes’ strong growth trajectory in previous quarters, contributed to the negative market sentiment.
As of 9:30 AM, Kaynes Technology shares opened at ₹4,851.00, hitting a high of ₹4,912.00 and a low of ₹4,255.00 during intraday trade. The stock has a 52-week high of ₹7,822.00 and a 52-week low of ₹2,424.00, showcasing ongoing volatility.
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