Ujaas Energy slips 9 per cent on weak Q3FY18 numbers

Ujaas Energy reported results for the quarter ended December 31, 2017 on Tuesday. The company's standalone revenue for the quarter came in at Rs. 75.44 crore, registering 24.7 per cent yoy decline. This was primarily driven by sharp decline in revenue from manufacturing and sale of solar power systems by 28.4 per cent. Also decline in sales from solar power plant operation by 28 per cent contributed to the deterioration in revenue.

EBITDA for the quarter fell by 39.3 per cent yoy to Rs. 9.73 crore with a corresponding margin contraction of 309 bps. EBITDA margin for the quarter stood at 12.9 per cent. This margin contraction was led by 13 per cent jump in employee benefit expenses. The PAT for the quarter came in at Rs. 3.96 crore, yoy decline of 54 per cent. This was partly due to sharp decline in other income from Rs. 1.09 crore to Rs. 0.69 crore in Q3FY18.

Ujaas Energy Limited, formerly M&B Switchgears Limited, is engaged in solar power plant operation business, and manufacturing and sale of solar power system.

On Wednesday, the stock opened at Rs. 21.80, down by almost 9 per cent from its previous closing of Rs. 23.95 and touched an intra-day low of Rs. 21.75, on the BSE.