RattanIndia Power Q3 Results: Company Swings To Profit, Shares Rise Nearly 8%

The shares of RattanIndia Power Ltd. rose nearly 8% on Wednesday after the company reported a profit in the third quarter of this fiscal. The company has reported a profit of Rs 4.33 crore.

The power generation company in the same quarter of the previous fiscal year reported a loss of Rs 587 crore, according to its stock exchange notification.

Revenue decreased by 9.1% year-on-year for the three months ended December, reaching Rs 733 crore in comparison to Rs 806 crore reported in the same quarter last year.

Operating income, or earnings before interest, taxes, depreciation, and amortisation, fell 47.4% year-on-year to Rs 90.3 crore. In the quarter ended December 2023, the company reported Ebidta of Rs 172 crore. The Ebitda margin contracted by 900 basis points to 12.3% from 21.3% in the same period the previous year.

The company in its regulatory filing said that there has been a steady improvement in PLF since the plant resumed generation in December 2020. However, generation experienced a decline in both the second and third quarter due to scheduled annual and capital overhauling of units.

The shares of RattanIndia Power rose as much as 7.97% to Rs 13.55 apiece, the highest level since Jan. 6. It pared gains to trade 3.27% higher at Rs 12.96 apiece, as of 3:01 p.m. This compares to a 0.55% advance in the NSE Nifty 50 Index.

It has risen 30.25% in the last 12 months. Total traded volume so far in the day stood at 2.5 times its 30-day average. The relative strength index was at 50.