Endurance Technologies slips 8% as Q3 profit halves to Rs 95 crore

The management said the market, this year, is subdued with headwinds in the form of weak rural demand and higher cost of ownership

Shares of Endurance Technologies slipped 8 per cent to Rs 1,423 on the BSE in Wednesday's intra-day trade after the company's profit after tax (PAT) halved to Rs 94.6 crore in December quarter (Q3FY22) due to weak operational performance. The auto parts & equipment company had posted PAT of Rs 190 crore in the year-ago quarter (Q3FY21).

Consolidated revenue from operations was down 7 per cent year-on-year (YoY) at Rs 1,889 crore against Rs 2,041 crore in previous year quarter. Earnings before interest tax and depreciation and amortization (Ebitda) decreased 41 per cent YoY at Rs 210.7 crore, while