Q1 Results: This company's profit fell by 60%, shares fell by 5 percent

News Topical, Digital Desk : Q1 Results: Nelco Limited has announced the results for the first quarter of the current financial year. The company has released the results figures in the exchange filing.

Nelco makes unattended ground sensors for the Indian Army. The impact of Nelco's results was seen on its shares on Monday, July 14. After the June quarter results, it fell by 5%.
 

The company's earnings in the June quarter remained stable compared to the same quarter last year and stood at ₹ 74 crores. The company's EBITDA fell by 36% year-on-year from ₹ 12.2 crores to ₹ 7.8 crores. Quarterly margins also declined from 16.5% to 10.4%. The company said that there has been a huge decline in net profit, which has come down from ₹ 4.5 crores last year to ₹ 1.8 crores, i.e. a decrease of about 60%. Increase in volume After the company's results, there has been a sharp increase in the trading volume in Nelco shares. The stock was trading below its 20-day average for most of the day, but finally 2.2 crore shares were traded, slightly above the 20-day average of 2 crore. There is currently no analyst coverage on Nelco. The stock closed 5.3% lower at ₹ 897.5 on Monday. The stock has declined 20% in the last one month, while it is down 40% from its recent high of ₹ 1,502.

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