Rain Industries locked in lower circuit after the loss in Q3FY19

Rain Industries shares were locked in 10 percent lower circuit at Rs 97.65 on Wednesday after the company posted a loss of Rs 139.1 crore for quarter ended December 2018. Weak operational performance and higher other expenses hit bottomline.

It had reported profit of Rs 307.2 crore in same period last year.

Revenue from operations in Q3 grew by 9.5 percent to Rs 3,444 crore, compared to Rs 3,146 crore in corresponding quarter last year.

At operating level, EBITDA (earnings before interest, tax, depreciation and amortisation) plunged 82.9 percent year-on-year to Rs 118.1 crore and margin contracted 1,850 basis points to 3.4 percent in Q3.

Other expenses increased sharply to Rs 906.6 crore, against Rs 653 crore in year-ago.

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