Emkay Global Financial Services tanks 7% after Q4 losses widen to Rs 5.37 crore

Shares of Emkay Global Financial Services tanked 7 percent after the company reported poor financials for the quarter ended March 2023.

At 10:39am on Tuesday, the shares of Emkay global financial services were trading 6.35 percent lower at Rs 72.85.

On a consolidated basis, Emkay Global reported net sales at Rs 42.14 crore in March 2023, down 19.91 percent from Rs. 52.62 crore in March 2022. Its quarterly net loss at Rs 5.37 crore in March 2023 has widened by 15.34 percent from Rs 4.66 crore a year back. EBITDA stands negative at Rs 3.50 crore in March 2023, down 45.23 percent from Rs. 2.41 crore in March 2022.

Whereas on a standalone basis, the financial services firm reported net sales at Rs 39.69 crore in March 2023, down 0.66 percent from Rs 39.95 crore in March 2022. The quarterly net loss of Rs 3.73 crore in March 2023 has widened by 361.24 percent from Rs 1.43 crore a year ago. EBITDA stands negative at Rs 1.51 crore in March 2023, down 894.74 percent from Rs. 0.19 crore.

Stock Performance

The Emkay Global Financial Services stock has underperformed the benchmark Nifty50 index by a considerable margin on a five-year basis. Emkay Global has lost 49.83 percent of its value over the last five years. Whereas the Nifty50 index has delivered a healthy return of 73.84 percent over the same duration.

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