Mold-Tek Packaging shares decline on disappointing Q3 earnings
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EBIDTA margin contracted by 136 basis points year-on-year to 18.4 percent in the December quarter
Shares of Mold-Tek Packaging plummeted on February 7, a day after the company reported a disappointing set of earnings for the quarter ended December.
At 11.53am, shares of Mold-Tek Packaging traded 9.57 percent lower at Rs 960.95 on the National Stock Exchange.
The company’s quarterly performance disappointed investors on all three fronts. Revenue from operations fell 3.4 percent on-year to Rs 154.83 crore in October-December on account of a drop in paint volumes.
The operational performance also remained weak as EBIDTA margin contracted 136 basis points to 18.4 percent. One basis point is one-hundredth of a percent. Lower capacity utilization and new project implementations dented margins in Q3.
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