Amber Enterprises Ltd.'s net loss widened in the second quarter but was lower than what analysts had estimated.
Amber Enterprises Q2 FY24 Consolidated (YoY)
Revenue up 23.5% at Rs 927.1 crore. (Bloomberg estimate: Rs 927 crore).
Ebitda jumps 62.5% to Rs 59.6 crore. (Bloomberg estimate: Rs 65.4 crore).
Margin at 6.42% vs 4.88%.
Net loss at Rs 5.65 crore vs loss of Rs 2.29 crore. (Bloomberg Estimates: Rs 9.5 crore).
Other Highlights
The cost of raw material was 76% of revenue vs 81% a year earlier.
Finance costs for the company increased 50% year-on-year.
Depreciation costs rose 42%.
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Shares of company rose 2.84% to close at Rs 3,035 apiece compared with a 0.42% decline in the benchmark NSE Nifty 50 on Friday.
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