Amber Enterprises shares rise 17% on Q4 earnings

Shares of Amber Enterprises India Ltd gained over 17% today after the firm logged a 81.72% rise in net profit to Rs 103.98 crore compared to Rs 57.22 crore in the corresponding period last year. Amber Enterprises stock opened 16.46% higher at Rs 2190 today against the previous close of Rs 1880.95 on BSE. It hit a high of Rs 2210, rising 17.52% on BSE. Market cap of the firm rose to Rs 6992 crore. Total 0.36 lakh shares changed hands amounting to a turnover of Rs 7.56 crore on BSE. Amber Enterprises stock has lost 22.23% in a year and risen 10 per cent in 2023.

In terms of technicals, the relative strength index (RSI) of Amber Enterprises stood at 55.7, signaling it's trading neither in overbought nor in the oversold zone. Amber Enterprises stock has a one-year beta of 0.9, indicating low volatility during the period. Amber Enterprises shares are trading higher than the 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

Total revenue stood at Rs 3002.62 crore in the March quarter, up 55.04 percent against Rs 1936.69 crore in the corresponding period of the preceding fiscal.

EBITDA jumped 62.43 percent to Rs 203.51 crore in Q4 over Rs 125.29 crore in the corresponding period in the previous fiscal.

Net profit rose 43.97% to Rs 157.20 crore in the last fiscal against Rs 109.19 crore in fiscal 2022. Revenues rose 64.68% in FY23 to Rs 6927.10 crore from Rs 4206.40 crore in FY22. EBITDA rose 51.76% to Rs 417.94 crore in Q4 over Rs 275.39 crore in the corresponding period in the previous fiscal.

Amber Enterprises manufactures heating and ventilation equipment. The company offers refrigerators, heat exchangers, air conditioners, home appliances, vacuum forming, and lighting products. Amber Enterprises also produces auto parts, injection molding, and sheet metal components.

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