KNR Constructions Ltd witnessed a 2% drop in share price on Thursday (February 13), despite posting an impressive 78.1% year-on-year (YoY) rise in net profit for Q3 FY24. The company reported a net profit of ₹248.6 crore, compared to ₹139.6 crore in the same quarter last year.
Revenue from operations fell 14.9% to ₹848 crore, down from ₹996 crore in Q3 FY23. This dip in revenue overshadowed the strong profit growth, leading to a negative market reaction.
At the operational level, EBITDA rose 13.1% to ₹255.5 crore, up from ₹226 crore in the previous fiscal’s corresponding quarter. The EBITDA margin expanded significantly to 30.1%, compared to 22.7% last year, indicating improved profitability.
KNR Constructions’ stock opened at ₹260.45, reaching a high of ₹264.05 and a low of ₹253.50 during the day. The stock’s 52-week high stands at ₹415.40, while the 52-week low is ₹236.75.
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