Cyient DLM Shares Fall The Most Since Listing After Q1 Net Profit Declines
The company's net profit fell 15% to Rs 5.36 crore in the quarter ended June.
Shares of Cyient DLM Limited fell the most since its listing on Monday after profit declined in the first quarter.
The company's net profit fell 15% to Rs 5.36 crore in the quarter ended June, according to an exchange filing.
The stock was listed on the exchanges on July 10 at a 58.77% premium to its IPO price. The IPO was subscribed to 67.31 times, with institutional buyers leading the demand.
Cyient DLM Q1FY24 YoY
Revenue from operations rose 28% to Rs 217.15 crore.
Ebitda gained 73% to Rs 19.98 crore.
Ebitda margin stood at 9.2% vs. 6.8%.
Net profit fell 15% to Rs 5.36 crore.
Shares of Cyient DLM fell 0.63% to Rs 495.1 apiece, compared to little change in the NSE Nifty 50 as of 10:18 a.m. The stock fell 9.41% intraday, the most since its listing on July 10.
The only analysts tracking the company maintain a 'buy' rating, with the 12-month price target implying a potential upside of 27.6%.
