Concord Biotech shares fell over 4% in early trading following the release of its Q1 results, which showed a decline in key financial metrics compared to the same period last year. As of 9:52 AM, the shares were trading 3.82% down on Rs 1,536.90.
The company reported a 5.5% drop in revenue, which came in at Rs 204 crore against Rs 216 crore in the previous year. Net profit took a sharper hit, falling 26% to Rs 44.1 crore from Rs 59.6 crore a year ago. Earnings before interest, taxes, depreciation, and amortization (EBITDA) also slipped by nearly a quarter, down 24.5% to Rs 61.4 crore from Rs 81.3 crore, reflecting a contraction in profitability.
The EBITDA margin narrowed to 30.1% from 37.6% last year, indicating increased pressure on the company’s operational efficiency.
Concord Biotech’s stock saw volatility during the day, opening at Rs 1,486.10 and hitting a low of Rs 1,479.90 before reaching a high of Rs 1,542.40. The previous day’s close was Rs 1,598, highlighting the downward pressure on the share price after the earnings announcement. Over the past year, the stock has traded between a low of Rs 1,345 and a high of Rs 2,664, showing significant fluctuations.
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