MTAR Technologies tanks 5% despite a 25.4% surge in Q1 net profit

Shares of MTAR Technologies fell 5% on early profit-taking on Aug. 11 despite the company’s strong first-quarter results.
As of 10:24 am on the NSE, the shares were trading at Rs 2191.05, down 4.24%.
The precision-engineered systems maker has reported profit for the quarter ending June 2024 of Rs 20.3 billion, up 25.4 per cent year-on-year, on strong sales and operating performance.
In the first quarter of FY24, revenue increased by 68% to Rs.152.6 million compared to Rs.910 million a year ago and EBIDTA increased by 38% to Rs.1.5 billion. 34.5 billion yen at 25 rupees. The company’s EBITA margin for the first quarter of fiscal year 24 was 22.6%. MTAR Technologies reported a 25% increase in net profit to Rs 20.3 billion. Last year it had sales of 16.2 billion and a profit margin of 13.3 percent in the first quarter of 2024.
Participation pattern

MTAR Technologies has a market capitalization of Rs 6,730.2 crore. About 39.14% of the company’s shares are owned by the promoters, 28.33% by the public, and DII and FII own 28.01% and 4.52% respectively.
stock price performance

MTAR stock is up 31.80% over the past six months. As a result, the benchmark index Nifty 50 returned 9.87% over the same period, significantly outperforming the benchmark index.