HBL Engineering Share Price Plunges To Eight-Month Low As Q3 Performance Disappoints

HBL Engineering Ltd.'s share price fell to the lowest level in eight months, after its third quarter earnings disappointed the street. The company's consolidated net profit declined 18% on the year to Rs 64.61 crore from Rs 79.04 crore.

Its topline declined 24.8% on the year to Rs 450.56 crore from Rs 599.26 crore. Its operating profit fell 17% on the year to Rs 93.56 crore from Rs 113.20 crore.

However, HBL Engineering's margin rose 190 basis points on the year to 20.8% from 18.9%.

HBL Engineering share price declined 11.11% to Rs 470 apiece, the lowest level since June 7. It pared losses to trade 8.42% down at Rs 484.25 as of 9:48 a.m., as compared to a 0.26% decline in the NSE Nifty 50.

The stock hit a 52-week high of Rs 739.65 apiece on Dec. 16, 2024. Its one-year low is Rs 378.20, which the stock touched on March 14, 2024.

The stock has declined 9.59% in 12 months. Total traded volume so far in the day stood at 6.5 times its 30-day average. The relative strength index was at 32.70.