Tanla Platforms Limited saw its shares fall by nearly 6% today following the release of its earnings results for the second quarter and six months ended September 30, 2024. The company reported a decline in key financial metrics, including a 7% drop in EBITDA and a 7.8% decline in profit quarter-on-quarter (QoQ).
For the second quarter, Tanla Platforms reported sales of ₹1,000.72 crore, slightly down from ₹1,008.59 crore in the same period last year. Revenue stood at ₹1,010.98 crore, compared to ₹1,014.93 crore in the previous year. Net income for the quarter was ₹130.21 crore, down from ₹142.55 crore a year ago. Basic earnings per share from continuing operations were ₹9.7, compared to ₹10.6 in the same quarter last year.
For the six-month period, the company reported sales of ₹2,002.93 crore, up from ₹1,919.70 crore a year ago. Revenue for the period was ₹2,022.80 crore, compared to ₹1,931.30 crore in the previous year. Net income stood at ₹271.43 crore, down from ₹277.95 crore last year. Basic earnings per share for the six months were ₹20.2, compared to ₹20.68 a year ago.
Despite the revenue growth for the six-month period, the decline in profitability and earnings per share contributed to the market’s negative reaction.
As of market close, Tanla Platforms shares were down nearly 6%, reflecting investor concerns over the company’s financial performance.
