Amber Enterprises soars 9{f08ff3a0ad7db12f5b424ba38f473ff67b97b420df338baa81683bbacd458fca} on robust Q3 earnings; zooms 47{f08ff3a0ad7db12f5b424ba38f473ff67b97b420df338baa81683bbacd458fca} in January

Shares of Amber Enterprises India soared 9 per cent to Rs 1,639 on the BSE on Friday after the company showcased a robust performance in the December quarter (Q3FY20) with operating earnings before interest, tax, depreciation and amortization (Ebitda) more than doubling at Rs 52 crore. It had clocked an operating Ebitda of Rs 26 crore in the same quarter last year.

Operating ebitda margin improved 158 basis points to 6.6 per cent in Q3FY20 from 5.02 per cent in Q3FY19.

As per the company’s financial statements, its revenue during the quarter under review grew 52 per cent year on year (YoY) to Rs 788 crore, as compared to Rs 518 crore in the previous year quarter. Net profit, meanwhile, jumped more than six-folds to Rs 25 crore from Rs 4 crore reported in the corresponding quarter of the previous fiscal.

“Increased industry demand, addition of new customers and the company’s deeper penetration in existing customers across components, and stock keeping units or SKU’s has led to a volume growth of 75 per cent YoY for the first nine months (April-December) of FY20,” the management said in a statement.

Ambar Enterprises is a market leader in the room air conditioner (RAC) industry and air conditioning industry for mobile application such as railways, metros, buses etc.

The stock was trading at its highest level since listing on January 30, 2018. In the month of January, it has zoomed 47 per cent from a level of Rs 1,117, as against a 0.42 per cent decline in the S&P BSE Sensex.

At 09:38 am, the stock was up 6 per cent at Rs 1,587 on the BSE, as against a 0.42 per cent rise in the benchmark index. A combined 82,592 shares have changed hands on the NSE and BSE so far.