 "Amber Enterprises up 7% on swinging to profit from loss YoY; revenue up 65%")
Amber Enterprises shares jumped 6.9 per cent on Friday, logging an intraday high at Rs 7,249.95 per share. The buying interest at the counter came after the company swung to profit in Q3 from loss a year ago.
Around 10:12 AM, Amber Enterprises share price was up 1.7 per cent at Rs 6,892.05 per share on BSE. In comparison, the BSE Sensex was down 0.14 per cent at 76,414.48. The market capitalisation of the company stood at Rs 23,311.33 crore. The 52-week high of the stock was at Rs 8,167.10 per share and the 52-week low was at Rs 2,991.2 per share.
Amber Enterprises released its Q3 results on Thursday, after market hours, which showed that the company swung to a net profit of Rs 36 crore as compared to a loss of Rs 0.48 crore a year ago.
The revenue of the company for the quarter under review stood at Rs 2,133 crore as compared to Rs 1,295 crore a year ago which implies a rise of 64.8 per cent year-on-year (Y-o-Y).
As per the company's filing, the operating Earnings before interest, tax, depreciation and amortisation (Ebitda) grew to Rs 162 crore, reflecting growth of 97 per cent Y-o-Y. ALSO READ: Jyoti Structures hits 10% upper limit on order of Rs 741 cr from Power Grid
Besides, consumer durable and electronic division clocked a quarterly revenue growth of 67 per cent and 96 per cent respectively over previous year.
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"We are pleased to report the robust financial performance for Q3FY25. The Consumer Durable division reported strong growth of 67 per cent Y-o-Y, led by the underlying RAC industry channel inventory filling in anticipation of positive summer season, and aided by deepening of the customer relationships," said Jasbir Singh, executive chairman & CEO and whole time director, Amber Enterprises India.
He added: The Railway Sub-systems and Defense division revenue witnessed a 13 per cent decline on a Y-o-Y basis in Q3FY25, impacted by deferral in the offtake of products. However, the delay in Indian Railways offtake is more momentary and with no cancellations of orders. ALSO READ: Cyient share tanks 20%, hits 52-wk low as Q3 profit falls 32% sequentially
"We remain optimistic for the strong growth trajectory of the division over long-term, backed by the order book and products expansion. Overall, with the key strategic initiatives in each division, we are well poised to attain new scale for the company," Singh said.
In the past one year, Amber Enterprises shares have gained 78.2 per cent against Sensex's rise of 7.6 per cent.