Carraro India Sees Modest Revenue Growth, But Profit and Stock Take a Hit

Carraro India reported a 3.29% YoY increase in net sales to ₹444.78 crore for Q3 FY24, but net profit declined by 26.7% to ₹14.14 crore. EBITDA also dropped 16.44% to ₹35.27 crore, while EPS fell to ₹2.49 from ₹3.39. The stock has declined 31.86% over the past six and twelve months.

Carraro India Sees Modest Revenue Growth, But Profit and Stock Take a Hit

Carraro India reported its standalone financial results for the quarter ending December 2024. The company’s net sales reached ₹444.78 crore, reflecting a 3.29% year-on-year increase from ₹430.59 crore in December 2023.

However, the quarterly net profit declined by 26.7% to ₹14.14 crore, compared to ₹19.29 crore in the same period last year. EBITDA also saw a decrease of 16.44%, standing at ₹35.27 crore versus ₹42.21 crore in December 2023. The company’s earnings per share (EPS) dropped to ₹2.49 from ₹3.39 in the previous year.

On February 6, 2025, Carraro India’s shares closed at ₹433.50 on the NSE, recording a negative return of 31.86% over both the last six and twelve months.

For the December 2024 quarter, total income from operations stood at ₹444.78 crore, slightly higher than ₹436.74 crore in September 2024. Key expenditure figures included ₹312.09 crore for raw material consumption and ₹37.45 crore for employee costs. The profit before tax declined to ₹18.97 crore from ₹28.93 crore in the previous quarter, with net profit after tax dropping to ₹14.14 crore from ₹21.58 crore.

The company’s basic and diluted EPS before and after extraordinary items stood at ₹2.49, down from ₹3.80 in the September quarter.