Sterling & Wilson Q2 Results: Stock tanks after losses return, margins down to nearly zero

Shares of Sterling & Wilson Renewable Energy Ltd. fell as much as 4% on Friday, October 17, in response to its quarterly results.

The company reported a net loss of ₹473 crore, which is in comparison to a net profit of ₹7 crore that it reported during the same quarter last year.

Revenue for the quarter increased by nearly 70% on a year-on-year basis to ₹1,748 crore.

Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) declined by nearly 79% to ₹3.7 crore, while EBITDA margin was down to nearly 0, declining to 0.2% from 1.7% in the year-ago quarter.

Shares of Sterling & Wilson have slumped to the lows of the day, currently trading 5.5% lower at ₹230.75. The stock has more than halved on a year-to-date basis, declining 51%.