Redtape shares gain over 7% after positive Q3 results — Net profit up 43%, margin expands to 21.7%

Shares of Redtape Ltd. gained over 7% on Thursday, February 12, reacting to the company's third quarter results.

Redtape's December quarter earnings gained across parameters, with its margins expanding as well.

The company reported a net profit of ₹104.5 crore, up 43.2% from the previous year's ₹73 crore.

Its revenue was up 19% at ₹786.5 crore compared to ₹661 crore in the previous year.

Redtape's earnings before interest, tax, depreciation and amortisation (EBITDA) increased 36% to ₹170.6 crore from ₹125.5 crore in the third quarter of the previous fiscal.

Its margin expanded to 21.7% from 19% in the year-ago period.



Redtape shares were trading 7.15% up at ₹136.98 apiece around 2.30 pm on Thursday. The stock has gained 18.2% in the past month but is down20.3% in the past year.

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