Godawari Power and Ispat Ltd. reported a largely mixed performance in the third quarter of the current financial year, with net profit slipping marginally by 1.1% year-on-year to ₹143.2 crore, compared with ₹144.8 crore in the year-ago period.
Revenue for the quarter declined 12.2% YoY to ₹1,139 crore, down from ₹1,297 crore a year earlier. Despite the drop in the topline, operating performance improved, with EBITDA rising 3.9% YoY to ₹230.3 crore, compared with ₹221.6 crore in the corresponding quarter last year.
As a result, the company’s EBITDA margin expanded by 320 basis points to 20.2%, from 17% a year ago.
Last month, the company approved an investment of ₹1,625 crore to scale up capacity at its upcoming Battery Energy Storage System (BESS) manufacturing project, significantly expanding its battery energy storage ambitions.
Shares of the company closed at ₹250 apiece on Friday, up 2.71% for the day.
