
eMudhra share price extends slide to 4th day, tanks 18% as margins take a hit in Q3
Live MintSmall-cap stock eMudhra, engaged in IT services, tumbled over 18% in intra-day trade on Wednesday, January 29 as the company took a hit to its margins even as the revenue and profit growth remained strong in Q3. eMudhra, which posted its quarterly earnings post market hours on Tuesday, saw an 11.9% year-on-year increase in Q3 profit after tax to ₹224 crore from ₹200.1 crore in the year-ago quarter. In India, the last quarter was particularly healthy in terms of deal wins for our Identity and Access management solution.” We continue to see favourable tailwinds in terms of global standards and regulatory mandates pushing for adoption of public key infrastructure in areas such as user authentication, secure payments and device identity management in electric vehicles, Srinivasan added. Share Price Impact Following the Q3 earnings announcement, eMudhra share price tumbled 18.21% to the day's low of ₹682.20.
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