Aarti Industries Ltd.'s net profit decreased 9.5% in the third quarter of fiscal 2024, though it surpassed analysts' estimates.
The company's profit declined to Rs 124 crore in the October-December quarter, in comparison with Rs 137 crore in the year-ago period, according to its exchange filing. That compares with the Rs 109-crore consensus estimate of analysts tracked by Bloomberg.
Aarti Industries Q3 FY24 Results (Consolidated, YoY)
Revenue up 3.8% at Rs 1,732 crore vs Rs 1,668 crore (Bloomberg estimate: Rs 1,662 crore).
Ebitda down 10% at Rs 260 crore vs Rs 289 crore (Bloomberg estimate: Rs 273 crore).
Margin contracts 231 bps to 15% vs 17.3%.
Net profit down 9.5% at Rs 124 crore vs Rs 137 crore (Bloomberg estimate: Rs 109 crore).
Shares of Aarti Industries closed 4.61% lower at Rs 635.8 apiece, as compared with a decline of 0.97% in the benchmark Nifty 50.
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