Shriram Properties’ stock hit a 52-week low after the company reported disappointing Q3 earnings. As of 10:32 AM, the shares were trading 1.33% lower at Rs 78.40.
The company’s revenue declined 45.2% YoY to ₹121 crore, compared to ₹221 crore in the same quarter last year.
The real estate firm also reported an EBITDA loss of ₹15 crore, a sharp decline from a profit of ₹19 crore in Q3 FY23. Net profit saw a 29.8% drop, falling to ₹13 crore from ₹19 crore YoY.
Shriram Properties’ stock opened at ₹77.19 today, reaching a high of ₹79.35 before dropping to a new 52-week low of ₹76.11. The stock remains significantly below its 52-week high of ₹147.60.
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