RR Kabel Ltd. posted a 33% decline in its consolidated net profit during the quarter ended Sept. 30, according to the financial results declared by the wires and cables manufacturer on Thursday.
The company's profit came in at Rs 49.5 crore during the quarter under review, as compared to Rs 74 crore in the year-ago period.
Even as the bottom line slipped, the revenue from operations clocked by RR Kabel rose 12% to Rs 1,810 crore in the second quarter of the current financial year. In the corresponding period of the previous fiscal, the revenue stood at Rs 1,610 crore.
The earnings before interest, taxes, depreciation and amortisation also faced a decline. It came in at Rs 86 crore, lower by 29% as compared to Rs 121 crore in the year-ago quarter. The Ebitda margin shrank by 280 basis points to 4.7% from 7.5% in the same period of the past fiscal.
RR Kabel was listed on the bourses in the corresponding quarter of the last fiscal. After launching a Rs 1,964-crore initial public offering, the company made its stock market debut on Sept. 20, 2023.
Shares of RR Kabel closed 0.73% lower at Rs 1,599.60 apiece on the NSE, compared to a 0.15% decline in the benchmark Nifty 50. The results for the second quarter were declared by the company after market hours. The share price has risen 1.79% on a year-to-date basis and 16.9% in the past 12 months.
Out of the nine analysts tracking the company, seven have a 'buy' rating on the stock and two recommend 'hold', according to Bloomberg. The average of 12-month analysts' price target stands implies a potential upside of 28%.
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