Shares of ITI Ltd hit the 5% decrease circuit on Friday 14 February after the corporate introduced its quarterly earnings for October-December.
The state-owned telecom product producer reported a internet lack of Rs 48.9 crore for the December quarter, contracting from Rs 101.3 crore for a similar interval final yr.
The income from operations of the corporate stood at Rs 1,034.5 crore, marking a 299.73% year-on-year improve from Rs 258.8 crore reported in the identical quarter final yr, pushed by robust operational efficiency no matter growing uncooked materials value.
Among the many main components influencing the corporate’s success in FY24 had been tasks together with ASCON Part IV, BSNL 4G Rollout, Mahanet, TanfiNet, NFS Mission, Gujnet, and IAF undertaking for upgrading the 3G community to 4G/5G.
As well as, the corporate introduced different order wins, together with a Rs 95 crore undertaking from the Directorate of Geology & Mining of the Uttarakhand authorities. The corporate, along with its consortium accomplice, has secured the bottom bid for BharatNet undertaking packages valued at Rs 4,559 crore.
The corporate’s earnings earlier than curiosity, tax, depreciation, and amortisation (EBITDA) loss was Rs 10.6 crore, versus the Rs 43.5 crore loss within the third quarter of the earlier yr.
At 3:30 pm, the shares of ITI closed 4.99% decrease at Rs 270.15 on NEE.
ITI Ltd Insights? Let the Analyst Information You.
Uninterested in guessing shares to commerce in day by day?
Unicorn Alerts empowers you with highly effective instruments like day by day inventory scans for Intraday, Swing & Investing, Market Predictions and way more. Obtain the Unicorn Alerts app at present and take management of your investments!
