Timken India shares declined sharply, falling over 7% in early trade after the company reported a mixed set of Q3 results, with revenue growth offset by pressure on profitability and margins.
Timken India Limited reported consolidated revenue of Rs 779.7 crore for the third quarter, marking a 14.1% year-on-year increase compared with Rs 683.4 crore in the same period last year. The top-line growth reflected steady demand across key industrial segments.
However, earnings performance weakened during the quarter. EBITDA declined 9.0% year-on-year to Rs 100.8 crore from Rs 110.8 crore, indicating higher operating costs and margin pressure. EBITDA margin contracted sharply by 329 basis points to 12.9%, compared with 16.2% in the corresponding quarter of the previous year.
Net profit saw a significant decline, falling 30.2% year-on-year to Rs 54.6 crore, as against Rs 78.2 crore reported in Q3 of the previous financial year.
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