Advanced Enzyme Tech Q3 net profit up, EBITDA margin contracts; Receives board nod to set up wind power plant

Advanced Enzyme Technologies Ltd. reported its earnings for the third quarter on Saturday, January 31.

Its net profit, revenue and earnings before interest, tax, depreciation and amortisation (EBITDA) gained in the quarter under review, but its margins narrowed.

The company's revenue increased 1.8% to ₹172 crore in the December quarter from 169 crore in the previous year.

Its net profit was up 13% at ₹42.5 crore from ₹37.6 crore in the third quarter of the previous year.

The company's EBITDA came in at ₹49.8 crore in the third quarter, up 9.3% from the previous year's ₹54.9 crore.

However, its EBITDA margin contracted to 28.9% from 32.5% in the year-ago period.

Wind power plant

Advanced Enzyme's board of directors on Saturday also approved the collaboration between the company and a developer to set up a group captive wind power plant via a special purpose vehicle (SPV) company.

Advanced Enzyme, along with other consumers, if any, will invest in up to 26% equity stake in the proposed SPV as a captive user for the mentioned electricity power.

In view of this, the company said it may not proceed further with the group captive solar power project regarding which it had intimated on November 9, 2024.

Shares of Advanced Enzyme Tech ended the previous session 0.2% lower at ₹297.6 apiece. The stock has declined 15.1% in the past six months.

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