Shares of Titagarh Railsystems slumped nearly 5 percent on February 14 as investors dumped the stocks after the company delivered weak earnings for the December quarter.
The railway company's net profit fell 16 percent on year to Rs 62.8 crore for the quarter gone by, down from Rs 74.8 crore that it reported in the year ago period.
The company's revenue from operations dipped 5.5 percent to Rs 902.2 crore as against Rs 954.7 crore in the corresponding period of the preceding fiscal.
Operational performance also weakened as EBITDA margin contracted to 11.1 percent in Q3, as against 11.6 percent, a year ago.
At 09.53 am, shares of Titagarh Rail were trading at Rs 815.65 on the NSE. The stock, once the darling of the Street, has now nearly halved in value in the last six months.
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