Triveni Engineering & Industries Limited saw its shares fall nearly 3% following the release of its first-quarter financial results for the period ending June 30, 2024.
Financial Highlights:
- Sales: The company reported sales of ₹15,340.3 million, up from ₹14,322.6 million in the same quarter last year.
- Revenue: Total revenue increased to ₹15,448.4 million from ₹14,444.7 million year-on-year.
- Net Income: Net income declined to ₹312.7 million compared to ₹676.1 million in the previous year.
- Earnings Per Share: Basic and diluted earnings per share from continuing operations both decreased to ₹1.42 from ₹3.09.
Operational Performance:
- EBITDA: EBITDA fell by 31% to ₹94.58 crore, down from ₹133.70 crore a year ago. The EBITDA margin also decreased to 5.6% from 8.7% year-on-year.
- Net Profit: Quarterly net profit was ₹30.87 crore, down 53.66% from ₹66.61 crore in June 2023.
Stock Movement:
- Current Trading Price: As of 9:35 AM, Triveni Engineering shares were trading 2.50% lower at ₹405.35 on the NSE.
Recent Performance:
- 6-Month Returns: The shares have given 23.39% returns over the last six months.
- 12-Month Returns: The stock has delivered a 39.61% return over the past year.
The company’s disappointing earnings and lower margins have led to a decline in share prices, reflecting investor concerns about its financial performance
