Amber Enterprises hits 52-week low; sheds 9% in four days post Q2 loss

In Q2FY23, Amber reported a net loss of Rs 2.3 crore as against profit of Rs 8 crore in the year ago period, dragged by fall in EBITDA margin and higher interest costs.

Shares of Amber Enterprises India hit a 52-week low of Rs 1,996.05, down 3 per cent on the BSE in Thursday’s intra-day trade in an otherwise firm market. The stock of the company engaged in air conditioning business has declined 9 per cent in past four days after the company reported weak operational performance in September quarter (Q2FY23). The stock quoted lower for the sixth straight trading day, down 11 per cent during the period. In comparison, the S&P BSE Sensex was up 0.50 per cent at 59,841 points at 09:53 AM.

The stock also fell below its previous