Moschip Tech Q3 net profit and EBITDA decline, margin narrows to 9.9%

Moschip Technologies Ltd. reported its earnings for the December quarter on Saturday, January 31.

The company's net profit and earnings before interest, tax, depreciation and amortisation (EBITDA) declined in the third quarter, even as its revenue increased. Its margins narrowed as well.

The company's net profit of ₹4.3 crore was down 60.8% from ₹11 crore in the third quarter of the previous fiscal.

Its revenue increased 18.5% to 149.3 crore from 126 crore in the previous year's December quarter.

Its EBITDA declined as well by 12% to ₹14.8 crore from ₹16.8 crore in the previous year.

The company's margins contracted to 9.9% from 13.3% in the year-ago period.

It reported an exceptional item of ₹5.8 crore due to the new labour code impact.

Shares of Moschip Tech ended the previous session 0.9% up at ₹208 apiece. The stock has gained 20% in the last six months.

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