Puravankara shares slipped about 4% in morning trade after the company released its Q1 results. As of 9:28 AM, the shares were trading 4.40% lower at Rs 255.00.
The consolidated revenue for the quarter fell sharply by 20.4%, down to Rs 524 crore from Rs 658 crore a year ago. More concerning was the net loss of Rs 68.6 crore, a significant turnaround from a profit of Rs 14.8 crore in the same period last year.
EBITDA also took a hit, dropping nearly 49% to Rs 66.7 crore compared to Rs 131 crore previously, causing the margin to shrink from 19.8% to just 12.7%. This dip reflects the challenging environment the company is facing right now.
On the trading front, the stock opened at Rs 262.75 and touched a low of Rs 252.20 today before climbing back slightly. Despite the current dip, the stock’s 52-week range shows a low of Rs 208.70 and a high of Rs 491.
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