Shares of Subros Ltd. are down over 12% on Tuesday, November 11, in response to its September quarter results that were reported after market hours on Monday. This is the biggest single-day fall for the stock since March 2020.

Subros reported a 11.8% growth in its net profit for the quarter to ₹40.7 crore from ₹36.4 crore last year. Its revenue increased by 6.2% from the year-ago quarter to ₹879.8 crore.

Operational performance during the quarter was weak for Subros with Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) for the quarter declined by 10.1% year-on-year to ₹68.4 crore from ₹76.1 crore, while EBITDA margin narrowed by 150 basis points to 7.7% from 9.2% last year. Higher raw material and employee costs impacted the company's operating performance.

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