Shares of SJVN Ltd. dropped nearly 6% on Thursday to the lowest in two weeks after the margin narrowed significantly in the fourth quarter of financial year 2024.
The power generation company's consolidated revenue fell 4.2% to Rs 240 crore in the quarter ended in March, leading to a 22% decline in its Ebitda, according to an exchange filing.
SJVN Q4 FY24 Earnings Highlights (Consolidated, YoY)
Revenue down 4.2% to Rs 483 crore versus Rs 504 crore.
Ebitda declined 22% to Rs 240 crore from Rs 309 crore.
Margin at 49.6% versus 61.3%.
Net profit up 259% to Rs 61 crore versus Rs 17 crore.
On the NSE, SJVN's stock fell as much as 5.87% during the day to Rs 131.50 apiece, the lowest since May 17. It was trading 3.61% lower at Rs 134.65 per share, compared to a 0.41% decline in the benchmark Nifty at 9:41 a.m.
The share price has risen 275.7% in the last 12 months and 47.99% on a year-to-date basis. The total traded volume so far in the day stood at 4.3 times its 30-day average. The relative strength index was at 48.87.
Out of five analysts tracking the company, two have a 'buy' rating on the stock and three suggest 'sell', according to Bloomberg data. The average of 12-month analyst price targets implies a potential downside of 16.4%.
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