Shares of SJVN Ltd. witnessed a sharp decline of nearly 20% on Monday following the release of its third-quarter financial results, which failed to meet analysts’ expectations.
The public sector company reported a significant drop in net profit, falling 51.64% year-on-year to Rs 138.9 crore for the quarter ended December, as disclosed in an exchange filing. This figure notably missed the Rs 282.3 crore estimate by analysts polled by Bloomberg.
As of 11:17 am, SJVN’s shares were trading 18.36% lower at ₹114.75.
SJVN’s Q3 FY24 results (Consolidated, YoY) briefly include a 1.58% decrease in revenue to Rs 543.3 crore (Bloomberg estimate: Rs 551.2 crore), a 3.17% decline in EBITDA to Rs 368.5 crore (Bloomberg estimate: Rs 412.6 crore), and a narrowing margin of 112 bps to 67.81% (Bloomberg estimate: 74.90%).
