Earnings Impact: Small-Cap Stock Dives 11% on Flop Q2 Show, Margin Contracts
By Malvika Gurung
Investing.com — Shares of the construction engineering company PSP Projects (NS:) tumbled 11% on Tuesday, closing the session at Rs 571.45 apiece after releasing its earnings results for the September 2022 quarter.
Its consolidated net profit fell 40.8% to Rs Rs 21.5 crore in Q2 FY23 compared to Rs 36.4 crore reported in the year-ago period, while revenue dropped 7.8% YoY to Rs 360 crore in the quarter.
The company’s profit before tax fell 38.6% on a YoY basis to Rs 29.65 crore in the Sept quarter while EBITDA declined too compared to the year-ago quarter’s figure.
The small-cap company reported a contraction in its margin during the quarter under focus at 11%, compared to 14% in the same quarter last year.
However, PSP Projects recorded its highest-ever order book to date, with the figure standing at Rs 5,081 crore as on Sept 30, stated the company at its investor presentation.
“In comparison to all previous H1, the company has received the highest ever order inflow of Rs 1,512 crore in H1 FY23 as compared to Rs 637 crore during the same period in FY22, a growth of 137% YoY,” it said.
By Malvika Gurung
Investing.com — Shares of the construction engineering company PSP Projects (NS:) tumbled 11% on Tuesday, closing the session at Rs 571.45 apiece after releasing its earnings results for the September 2022 quarter.
Its consolidated net profit fell 40.8% to Rs Rs 21.5 crore in Q2 FY23 compared to Rs 36.4 crore reported in the year-ago period, while revenue dropped 7.8% YoY to Rs 360 crore in the quarter.
The company’s profit before tax fell 38.6% on a YoY basis to Rs 29.65 crore in the Sept quarter while EBITDA declined too compared to the year-ago quarter’s figure.
The small-cap company reported a contraction in its margin during the quarter under focus at 11%, compared to 14% in the same quarter last year.
However, PSP Projects recorded its highest-ever order book to date, with the figure standing at Rs 5,081 crore as on Sept 30, stated the company at its investor presentation.
“In comparison to all previous H1, the company has received the highest ever order inflow of Rs 1,512 crore in H1 FY23 as compared to Rs 637 crore during the same period in FY22, a growth of 137% YoY,” it said.