Why This Akash Bhanshali-Backed Small Cap Stock Is Crashing 10% Today

Shares of Amber Enterprises slumped over 10% on Monday to hit an intraday low of ₹2,721.05.

What Happened: Amber Enterprises witnessed an increase in its consolidated revenue, with a year-over-year growth of 23.5%. The revenue for the September quarter reached ₹927.1 crore, which was in line with the street estimates of around ₹920 crore.

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However, the company’s losses widened to ₹5.65 crore, more than double from ₹2.29 crore loss it booked in same quarter last year. EBITDA grew by 62.5% year-over-year to reach ₹59.6 crore for the September quarter. EBITDA margin also improved, reaching 6.42% in the July-September period, compared to 4.88% in the same period the previous year.

Shares of the consumer durables major took a hit on Monday, as the company’s earnings seem to have disappointed investors.

Price Action: Amber Ent’s share price was down 7.30% to trade at ₹2,814.90 on Monday afternoon.

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