Moschip Technologies reported a mixed financial performance for the third quarter, with revenue growth failing to translate into higher profitability. The company saw a significant year-on-year decline in net profit and operating margins, even as topline numbers improved.
During the quarter, Moschip’s net profit declined sharply by 60.8% to ₹4.3 crore, compared with ₹11 crore reported in the same period last year.
Despite weaker profitability, Moschip delivered a healthy increase in revenue. Q3 revenue rose 18.5% year-on-year to ₹149.3 crore, up from ₹126 crore in the corresponding quarter last year.
Earnings before interest, tax, depreciation and amortisation (EBITDA) fell 12% year-on-year to ₹14.8 crore, compared with ₹16.8 crore in Q3 of the previous financial year.
Moschip’s EBITDA margin dropped to 9.9% in Q3, down from 13.3% in the year-ago period.
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