Brainbees Solutions shares extend losses, fall 19% for third-straight day

Shares of Brainbees Solutions Ltd. extended their losses for the third consecutive day, declining nearly 5% on Wednesday, February 18.The stock had declined 11.2% on Monday, February 16, reacting to the company’s third-quarter results. It has declined 18.8% in the last three trading sessions. The stock is trading with losses for five out of the last six sessions.

While its revenue increased 12% to ₹2,424.6 crore from the previous year, its earnings before interest, tax, depreciation and amortisation (EBITDA) declined 10% to 97 crore. Its margins contracted as well to 4% from 5% in the year-ago period.
The company’s loss widened to ₹38.4 crore in the third quarter from ₹14.7 crore in the previous year, with an exceptional of ₹16.3 crore.The company’s India business revenue increased 9% to ₹1,645.7 crore, while its EBIT declined to ₹163.8 crore from ₹168.8 crore in the previous year. Its margin was down to 10% from 11.2% last year.

Its international business’ revenue was up 7% at ₹279.5 crore, while it reported a loss of ₹29.6 crore from ₹39.6 crore in the third quarter of the previous fiscal.

Meanwhile, Globalbees’ revenue was up 22% at ₹515 crore in the third quarter. Its EBIT increased 147% to ₹14.8 crore and its margin expanded to 2.9% from 1.4% in the previous year.

Shares of Brainbees Solutions declined 4.7% to hit an intraday low of ₹219 apiece on Wednesday. The stock was down 4.3% at ₹220 apiece around 12.10 pm. It has declined 40.7% in the past six months.

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