Praj Industries Limited announced its results for the June quarter on Monday, August 11, reporting a sharp year-on-year decline across all key performance parameters.The company’s net profit fell by 93.7% to ₹5.3 crore, compared to ₹84.1 crore in the corresponding quarter of the previous year.
Revenue decreased by 8.4% year-on-year to ₹640 crore, from ₹699 crore in the same period last year.
Earnings before interest, taxes, depreciation and amortisation (EBITDA) dropped by 66% to ₹31.2 crore, as against ₹92 crore a year ago.The operating margin also contracted to 4.9%, compared to 13.2% in the year-ago period.
Following the earnings announcement, shares of Praj Industries Limited ended 0.15% lower on Monday at ₹447. On a year-to-date basis, the stock has declined by 47%.
