PCBL shares jump over 13% despite 98% plunge in Q3 profit

PCBL reported its December quarter earnings on Tuesday, February 3, delivering a weak set of numbers. The company’s net profit plunged 98% year-on-year to ₹2 crore, compared with ₹93 crore in the same quarter last year.

Revenue for the quarter declined 8.2% on a year-on-year basis to ₹1,845 crore, down from ₹2,010 crore a year ago.

Operating performance also remained under strain, with EBITDA falling 32.7% year-on-year to ₹213.6 crore, compared with ₹317.6 crore in the corresponding quarter last year.

EBITDA margins compressed sharply to 11.6% in the December quarter, versus 15.8% in the year ago period.

Despite the subdued December quarter performance, PCBL shares were trading higher by 13.64%.