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What is the story about?
Shares of Elecon Engineering Company
Ltd. declined more than 5% in trade on Friday, July 10, after the company reported a sharp drop in first-quarter earnings.
For the quarter ended June 2026 (Q1FY27), the company reported a net profit of ₹70 crore, down 60% from ₹175 crore in the corresponding period last year.
However, the year-ago quarter included a one-time gain of ₹80.5 crore, resulting in a higher base for comparison.
Revenue from operations rose 6% year-on-year to ₹521 crore, compared with ₹491 crore in the year-ago quarter.
Operating performance, however, weakened during the quarter. EBITDA fell 16% to ₹110 crore from ₹131 crore a year earlier, while the EBITDA margin contracted to 21.1% from 26.7% in the corresponding quarter last year.
Following the earnings announcement, Elecon Engineering shares were trading over 5% lower in Friday's session.
For the quarter ended June 2026 (Q1FY27), the company reported a net profit of ₹70 crore, down 60% from ₹175 crore in the corresponding period last year.
However, the year-ago quarter included a one-time gain of ₹80.5 crore, resulting in a higher base for comparison.
Revenue from operations rose 6% year-on-year to ₹521 crore, compared with ₹491 crore in the year-ago quarter.
Operating performance, however, weakened during the quarter. EBITDA fell 16% to ₹110 crore from ₹131 crore a year earlier, while the EBITDA margin contracted to 21.1% from 26.7% in the corresponding quarter last year.
Following the earnings announcement, Elecon Engineering shares were trading over 5% lower in Friday's session.
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