State-owned ITI Ltd. shares slipped five percent in trade on February 14, after reporting a net loss for the quarter ended December (Q3) of the current financial year (FY25).
ITI narrowed its net loss to Rs 48.9 crore for the three months ended December, from Rs 101.3 crore in the same quarter last year. Revenue from operations surged 299.7 percent year-over-year to Rs 1,034.5 crore, up from Rs 258.8 crore, driven by strong operational performance despite higher raw material costs.
At the operating level, ITI reduced its EBITDA loss to Rs 10.6 crore in Q3 FY25, a significant improvement from the Rs 43.5 crore loss a year ago.
At 12 pm, ITI shares were quoting Rs 271.5 on the NSE, lower by 4.5 percent on the NSE.
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In January, ITi forayed into security systems and education/ICT domains with orders win from Sambalpur University worth Rs 35 crore, and integrated security system from Central Railways worth Rs 29.14 totalling Rs 64 crore.
The company has received a contract worth more than Rs 35 crore from Sambalpur University, Odisha to establish Campus Wi-Fi and LAN at 80 locations in its University campus to meet the need of providing seamless internet and intranet access across the campus. This project includes supply, installation, commissioning along with three years maintenance period.
The company had also made a recent announcement of securing a contract worth approximately Rs 95 crore from the Directorate of Geology & Mining, Government of Uttarakhand. This contract is for the implementation of a Mining Digital Transformation & Surveillance System (MDTSS) project. This contract win is expected to boost ITI's revenue and profitability, contributing to its overall growth trajectory.
Over the past one year, shares of ITI have fallen around 8 percent in trade, outperforming the benchmark Nifty 50 index that rose around 5.7 percent during the same time period.
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