MTAR Tech slumps after Q3 PAT drops 69% YoY

MTAR Technologies tumbled 11.38% to Rs 1,698.20 after the company 's consolidated net profit declined 66.88% to Rs 10.4 crore in Q3 FY24 as compared with Rs 31.4 crore in Q3 FY23.

Revenue from operations fell 26.09% to Rs 118.38 crore in Q3 FY24 as compared with Rs 160.16 crore in Q3 FY23.

Profit before tax declined 63.39% YoY to Rs 12.88 crore in Q3 FY24.

EBITDA stood at Rs 23.9 crore in Q3 FY24, registering the de-growth of 47% as compared with Rs 45 crore posted in corresponding quarter last year. EBITDA margin contracted to 20.2% in Q3 FY24 as against 28.1% in Q3 FY23.

As on 31 December 2023, the order book stood at Rs 1,178.9 crore.

Parvat Srinivas Reddy, managing director & promoter, MTAR Technologies, said, Revenues in FY24 shall be marginally higher as compared to FY23 due to deferment of export shipments in Clean Energy sector to the next fiscal year. However, the growth outlook for FY 25 remains intact with 45% - 50% YoY likely increase in revenues. The company is in final stages of discussion with reputed global MNCs as well as made good progress in Small Satellite Launch Vehicle project.

MTAR Technologies is a leading manufacturer engaged in manufacturing and development of mission critical precision engineered systems catering to clean energy civil nuclear power, fuel cells, hydel & others, space, and defence sectors. The company has a long-standing relationship of over four decades with leading Indian organisations and global OEMs. It has seven strategically based manufacturing units including an export-oriented unit each based in Hyderabad, Telangana.

Powered by Capital Market - Live News