SJVN Shares Locked In 20% Lower Circuit After Q3 Profit Misses Estimates

The PSU's net profit declined 51.64% on year to Rs 138.9 crore in the December quarter, missing Bloomberg's estimate of Rs 282.3 crore.

<div class="paragraphs"><p>(Source: Company website)</p></div>
(Source: Company website)

Shares of SJVN Ltd. hit 20% lower circuit on Monday, after its third-quarter profit fell and missed analysts' estimates.

The public sector undertaking's net profit declined 51.64% year-on-year to Rs 138.9 crore in the quarter ended December, according to an exchange filing. It missed the Rs 282.3 crore estimate by analysts polled by Bloomberg.

SJVN Q3 FY24 Results Key Highlights (Consolidated, YoY)

  • Revenue down 1.58% at Rs 543.3 crore. (Bloomberg estimate: Rs 551.2 crore).

  • Ebitda down 3.17% at Rs 368.5 crore. (Bloomberg estimate: Rs 412.6 crore).

  • Margin narrows 112 bps to 67.81%. (Bloomberg estimate: 74.90%).

  • Net profit down 51.64% at Rs 138.9 crore. (Bloomberg estimate: Rs 282.3 crore).

SJVN Shares Locked In 20% Lower Circuit After Q3 Profit Misses Estimates

Shares of SJVN were locked in 20% lower circuit on NSE. It was trading at lower circuit of 20% at Rs 112.45, the lowest level since Jan. 25. This compares to 0.55% decline in the NSE Nifty 50.

The stock has risen 249.77% in past 12 months. Total traded volume so far in the day stood at 2.8 times its 30-day average. The relative strength index was at 45.30.

Of the five analysts tracking the company, three maintain a 'buy' rating, and two suggest a 'sell', according to Bloomberg data. The average 12-month analysts' consensus price target implies a downside of 5.4%.

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