Avantel shares slip 17% post Q4 earnings, check details
Avantel stock slipped 17.34% to Rs 105.55 in the afternoon session today against the previous close of Rs 127.70 after the earnings were announced. Market cap of the firm fell to Rs 2573.79 on BSE.
- Apr 25, 2024,
- Updated Apr 25, 2024 3:58 PM IST
Avantel reported a 25% rise in net profit for the quarter ended March 2024. Net profit climbed to Rs 12.1 crore in Q4 against 9.7 crore on a YoY basis. However, revenue fell to Rs 41.76 crore in the last quarter against Rs 52.53 crore in the March 2023 quarter. Earnings per share rose to Rs 0.50 in the last quarter against Rs 0.40 EPS in the March 2023 quarter.
The Board of Directors recommended a final dividend of Rs 0.20 per equity share of Rs 2/- each for the year ended March 31, 2024. Profit before tax rose to Rs 15.85 crore in Q4 against Rs 15.18 crore in the March 2023 quarter. Avantel stock slipped 17.34% to Rs 105.55 in the afternoon session today against the previous close of Rs 127.70 after the earnings were announced. Market cap of the firm fell to Rs 2573.79 on BSE. Avantel stock closed 12.62% lower at Rs 111.59 on BSE.
Avantel is engaged in the manufacture of telecom products and provides related customer support services. The company's segments include communications and signal processing products, and health care services.
Avantel reported a 25% rise in net profit for the quarter ended March 2024. Net profit climbed to Rs 12.1 crore in Q4 against 9.7 crore on a YoY basis. However, revenue fell to Rs 41.76 crore in the last quarter against Rs 52.53 crore in the March 2023 quarter. Earnings per share rose to Rs 0.50 in the last quarter against Rs 0.40 EPS in the March 2023 quarter.
The Board of Directors recommended a final dividend of Rs 0.20 per equity share of Rs 2/- each for the year ended March 31, 2024. Profit before tax rose to Rs 15.85 crore in Q4 against Rs 15.18 crore in the March 2023 quarter. Avantel stock slipped 17.34% to Rs 105.55 in the afternoon session today against the previous close of Rs 127.70 after the earnings were announced. Market cap of the firm fell to Rs 2573.79 on BSE. Avantel stock closed 12.62% lower at Rs 111.59 on BSE.
Avantel is engaged in the manufacture of telecom products and provides related customer support services. The company's segments include communications and signal processing products, and health care services.