DEE Development shares slide nearly 10% from highs after Q4 profit, margins

Shares of DEE Development Engineers Ltd. fell sharply after the company reported its fourth quarter earnings on Thursday, May 21. The stock is since fluctuating between gains and losses.

While the company's revenue increased for the March quarter, its net profit and margin declined and Earnings Before Interest, Tax, Depreciation, and Amortisation (EBITDA) was flat in the fourth quarter.

The company's net profit was lower by 11% at ₹28 crore in the March quarter compared to ₹31.5 crore last year. Its revenue increased 26.3% to ₹362 crore from ₹286.4 crore in the fourth quarter last year.

Earnings before interest, tax, depreciation and amortisation (EBITDA) in the fourth quarter was flat at ₹63.6 crore, while the company's margins contracted to 17.6% from 22.2% in the year-ago period.

Shares of DEE Development Engineers are trading 1.6% higher after the results announcement. The stock, which was locked in a 5% upper circuit before the earnings announcement, fell as much as 10% from the highs of the day to make an intraday low of ₹451.4. The stock has risen 17% in the last one month and is up 131% so far this year.

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