Amber reports strong revenue recovery on favourable baseAMBER - 2369 Change: -12.00 (-0.50 %)
News: Amber Enterprises reported consolidated revenue growth of ~27% YoY to ~ Rs.974 crore largely on a favourable base and recovery in demand for cooling products. The EBITDA margin declined 70 bps YoY to 7.6% due to sharp rise in employee costs. PAT came in higher by 18% YoY to Rs.33 crore, tracking higher sales during the period.
Views: Amber reported an improved performance from the last three consecutive quarters in FY22. The revenues were up by 172%, 44% and 27% YoY in Q1, Q2 and Q3 of FY22 respectively along with improving EBITDA margins trend of 6%, 5.8% and 7.6% respectively during the same period. As situation is inching towards normalcy with demand gaining momentum, we expect strong demand of cooling product, going forward. We await management commentary on near term challenges and impact of raw material inflations on profitability.