Power Mech Projects Limited shares fell over 3% in early trade on February 11, even as the company reported a year-on-year increase in consolidated net profit for the third quarter. The decline came amid pressure on operating performance and margins.
As of 9:30 AM IST, the stock touched a day’s low of Rs 2,181.00, compared with the previous close of Rs 2,268.50. It opened at Rs 2,280.90 and hit an intraday high of Rs 2,280.90. The stock’s 52-week range stands between Rs 1,700.00 and Rs 3,415.00.
For Q3 on a consolidated basis, revenue rose 6.1% YoY to Rs 1,419 crore, compared with Rs 1,338 crore in the corresponding quarter last year. However, operating performance weakened during the quarter.
EBITDA declined 20.8% YoY to Rs 159 crore from Rs 201 crore. EBITDA margin contracted 380 basis points to 11.2%, down from 15.0% in the year-ago period, indicating pressure on profitability at the operating level.
Despite the decline in operating earnings, net profit increased 14.6% YoY to Rs 94 crore, compared with Rs 82 crore in the same quarter last year.
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