Stovekraft's stock tanks 12% owing to Q3 FY'22 results

9 Feb 2022 , 01:21 PM

Stovekraft Ltd. reported total revenue of Rs 298 crore in December 2021, up by 1.1% YoY, against Rs. 294.70 crore in December 2020. Revenue for the 9M period ended December 2021 stood at Rs 875 crore as against Rs 623.50 crore for the corresponding 9M period, up by 40.30% YoY.

Company’s quarterly Net Profit (PAT) stood at Rs. 11.10 crore in December 2021, as compared to Rs. 33.50 crore in December 2020, recording a decline of 66.80% YoY.

PAT for the 9M period ended December 2021 stood at Rs 47.60 crore as compared to Rs 62 crore for 9M Q3 FY’21, reporting decline of 23.20% YoY.

EBITDA stands at Rs. 21.50 crores in December 2021 against Rs. 44 crores in the previous corresponding quarter, down by 51.10% YoY.

Its EBITDA for the 9M period ended December 2021 stood at Rs 87.10 crore as against Rs 91.60 crore for the 9M ended December 2020, shedding 4.9% YoY.

EBITDA margin for the quarter stood at 7.2% against 14.90% for the previous corresponding quarter. PAT margin reported at 3.70% against earlier 11.40%.

The company’s PBT for the quarter ended December 2021 stood at Rs 10 crores as against Rs 33.50 crore for the corresponding quarter, shedding 70% yoy. PBT for the 9M ended December 2021 stood at Rs 55.60 crore as against Rs 62 crore for the corresponding 9M period, down by 10.20% yoy.

At around 1.30 PM, Stovekraft was trading at Rs 744.05, down by Rs 104.15 or 12.28% against previous closing price of Rs 848.20. It touched day’s low of Rs 714 so far, and is hinting a downwards trend in today’s trade.