Amber Enterprises plunges 7% on profit booking post Sept quarter results

EBITDA margins declined 134 basis points to 4.8 per cent in Q2FY21 due to de-operating leverage playing out considering the dip in revenues

Shares of Amber Enterprises slipped 7 per cent to Rs 2,155 on the BSE in the early morning trade on Monday as investors booked profits on the stock after the company reported disappointing SEptember quarter results. Its profit after tax plunged  77 per cent to Rs 3 crore in Q2FY21 due to lower revenues. The consumer electronics company had clocked a profit of Rs 12 crore in the year-ago quarter. It posted a net loss of Rs 24 crore in June quarter of FY21.

With today's fall, the stock of Amber Enterprises has corrected 15 per cent from its all-time high