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Endurance Technologies' Profit Beat Drives Shares To Four-Month High

The company's net profit rose 54% on the year to Rs 210 crore during the quarter ended March 2024, beating Bloomberg estimated of Rs 160 crore.

<div class="paragraphs"><p> Worker at an assembly line at&nbsp;Endurance Technologies Ltd. (Source: Company website)</p></div>
Worker at an assembly line at Endurance Technologies Ltd. (Source: Company website)

Shares of Endurance Technologies Ltd. rose to the highest level in over four months on Friday after its profit came higher than street estimates.

The company's net profit rose 54% on the year to Rs 210 crore during the quarter ended March 2024, according to an exchange filing. Analysts polled by Bloomberg estimated the net profit at Rs 160 crore.

Endurance Technologies Q4 Results Highlights (Consolidated, YoY)

  • Revenue rose 20.2% to Rs 2,685 crore. (Bloomberg estimate: Rs 2,613 crore).

  • Ebitda up 36.5% to Rs 389 crore. (Bloomberg estimate: Rs 320 crore).

  • Margin at 14.5% versus 12.8% (Bloomberg estimate: 12.13%).

  • Net profit up 54% to Rs 210 crore. (Bloomberg estimate: Rs 160 crore).

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Endurance Technologies' Profit Beat Drives Shares To Four-Month High

Shares of the company rose 14.31% to Rs 2,315, the highest level since Jan 5. It was trading 10.22% higher at Rs 2,232.80 as of 10:47 a.m., compared to 0.21% advance in the NSE Nifty 50 index.

The stock gained 56.00% in 12 months and 15.52% so far this year. The total traded volume so far in the day stood at 36 times its 30-day average. The relative strength index was at 71.68.

Out of 18 analysts tracking the company, 11 maintain a 'buy' rating, three recommend a 'hold,' and four suggest a 'sell', according to Bloomberg data. The average 12-month consensus price target implies a downside of 10.6%.

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