Amber Enterprises Q2 Results: Loss Widens But Is Lower Than Estimates

Amber Enterprises Ltd.'s net loss widened in the second quarter but was lower than what analysts had estimated.

Amber Enterprises Q2 FY24 Consolidated (YoY)

Revenue up 23.5% at Rs 927.1 crore. (Bloomberg estimate: Rs 927 crore).

Ebitda jumps 62.5% to Rs 59.6 crore. (Bloomberg estimate: Rs 65.4 crore).

Margin at 6.42% vs 4.88%.

Net loss at Rs 5.65 crore vs loss of Rs 2.29 crore. (Bloomberg Estimates: Rs 9.5 crore).

Other Highlights

• The cost of raw material was 76% of revenue vs 81% a year earlier.

• Finance costs for the company increased 50% year-on-year.

• Depreciation costs rose 42%.

Shares of company rose 2.84% to close at Rs 3,035 apiece compared with a 0.42% decline in the benchmark NSE Nifty 50 on Friday.