Maharashtra Seamless shares slipped over 3% in early trade on Thursday after the company reported a sharp decline in its September quarter earnings. As of 9:40 AM, the shares were trading 2.96% higher at Rs 556.05.
The pipe manufacturer’s consolidated revenue fell 10.3% year-on-year to ₹1,159 crore compared to ₹1,292 crore in the same quarter last year.
EBITDA dropped 46.9% to ₹123 crore from ₹231 crore, with margins contracting to 10.6% from 17.9%. Net profit also declined 43.1% to ₹125 crore versus ₹220 crore a year ago, reflecting pressure on operational performance.
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