GTPL Hathway shares slipped 3 percent on October 10 after the company reported a sharp slump in its net profit for the July-September quarter.
At 10.10 am, shares of GTPL Hathway were trading at Rs 162.02 on the NSE. The stock has also been on a consistent downtrend, delivering negative returns for the past one week, one month, three month, one year as well as three year periods.
The digital cable TV and broadband service provider's net profit slumped 63 percent on year to Rs 12.7 crore in Q2, down from Rs 34.2 crore in the year ago period. This also marks the ninth time in the past ten quarters that the company has reported an on year decline in its profit.
The drag on the bottomline was also on account of weak operational performance as EBITDA margin contracted sharply to 12.5 percent in Q2 in comparison to 16 percent in the same quarter last fiscal.
Follow our market blog to catch all the live action
The company's revenue from operations rose by 9.8 percent to Rs 855.6 crore, compared to Es 779.2 crore in the same period of the previous fiscal year.
Meanwhile, GTPL Hathway's Q2 results also triggered a spike in trading volumes in the counter. As much as 99,000 shares of GTPL Hathway changed hands on the exchanges so far, as against the one-week daily traded average of 36,000 shares.
Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
