New Delhi, July 25 (SocialNews.XYZ) Semiconductor and product engineering services provider MosChip Technologies has reported a 77.56 per cent year-on-year decline in its consolidated net profit to Rs 2.45 crore for the first quarter (Q1) of FY27, as lower revenue and margin contraction weighed on its performance.
The company had posted a consolidated net profit of Rs 10.92 crore in the corresponding quarter of the previous financial year.
Revenue from operations declined 14.29 per cent year-on-year to Rs 116.21 crore during the April-June quarter, compared with Rs 135.59 crore in the year-ago period.
On a sequential basis, net profit fell almost 70 per cent, while revenue dropped 24.15 per cent from the preceding quarter.
In addition, profit before tax (PBT) stood at Rs 3.66 crore in Q1 FY27, down 68.11 per cent from a year ago and 45.45 per cent lower sequentially.
While EBITDA came in at Rs 11.79 crore during the quarter, compared with Rs 17.18 crore in the corresponding period last year.
The EBITDA margin narrowed to 10.15 per cent from 12.67 per cent.
Commenting on the quarterly performance, the company said revenue fluctuations are inherent to its Turnkey ASIC business, where revenue recognition depends on project milestones and stages of completion.
It said certain Turnkey engagements progressed to the tape-out stage during the quarter, affecting the timing of revenue recognition.
The Hyderabad-headquartered firm is a semiconductor and product engineering solutions provider with more than 1,900 engineers and domain experts across India and the United States.
Shares of MosChip Technologies settled 0.66 per cent lower at Rs 232 on the BSE on Friday. The stock has touched a 52-week high of Rs 288 and a 52-week low of Rs 147.05, according to the exchange.
Source: IANS
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