On July 26, RattanIndia Power’s shares slumped 6% after it conveyed widening losses and shrinking margins for the June quarter.

The business’s combined revenue was up merely 1% YoY at Rs 847.27 crore, while the net loss widened to Rs 549.36 crore during Q1FY24 from Rs 389.3 crore. Its EBITDA (earnings before interest, tax, depreciation, and amortisation) failed 28% YoY to Rs 156.75 crore.

At 10.50 am, shares were trading 3.88% lower at Rs 4.95 on the BSE. The scrip had recorded a 52-week low of Rs 2.80 and a 52-week high of Rs 6.10. The stock has risen around 60% in the past three months.

The company’s operating margins contracted by 18.5% in the June quarter from 26% a year ago. This was primarily because of the developed cost of fuel, power and water consumed, along with increased employee benefit expenses.

RattanIndia Power is a private power generation business with 2,700 MW thermal power plants installed at Amravati and Nashik (1,350 MW at each location) in Maharashtra.