Shares of Olectra Greentech Ltd. declined over 9% on Tuesday after its revenue dropped 23% in the first quarter.
However, the company's consolidated net profit rose 8% to Rs 18.1 crore in the June quarter, according to an exchange filing on Monday.
Olectra Greentech Q1 FY24 Highlights (Consolidated, YoY)
Revenue down 23% at Rs 216 crore.
Ebitda up 16% at Rs 42 crore.
Ebitda margin at 19.5% vs 12.9%.
Net profit up 8% at Rs 18.1 crore.
Shares of Olectra Greentech were trading 5.24% lower at Rs 1,076.90 apiece, compared to a 0.23% decline in the benchmark NSE Nifty 50 as of 11:21 a.m. The stock fell to an intraday low of 9.26%.
The total traded quantity so far in the day stood at 0.8 times the 30-day average volume. The stock's relative strength index stands at 42.79
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