Wednesday, July 17, 2024

Delta Corp Stock Tumbles Over 4% After Q1FY25 Profit More Than Halves | Pragativadi | Odisha News, Breaking News Odisha, Latest Odisha News – N.F Times

New Delhi: The stock of Delta Corp declined by over 4% to Rs 136 per share on July 10 following the company’s Q1FY25 results.

The disappointing performance was attributed to higher GST rates, the impact of general elections, and seasonal factors.

The company’s consolidated net profit fell by 67.6% year-on-year to Rs 21.6 crore, while revenue from operations declined by 30% to Rs 181 crore compared to the same period last year.

On a sequential basis, the company’s profit nearly halved, and EBITDA fell by 68.2% year-on-year to Rs 30.5 crore in Q1FY25.

The company’s EBITDA margin also contracted sharply to 16.9% in Q1FY25 from 36.9% in Q1FY24. Despite this, the company’s board recommended a final dividend of Rs 1.25 per share and approved the appointment of new additional directors.

The stock has underperformed the benchmark Nifty 50 index year-to-date, slipping over 5%, but surged over 14% in the past month, outperforming the index.

The recent surge was driven by speculation around potential relief from the GST Council, which did not materialize, disappointing the industry.

Related Articles