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As on : 13-Aug-2025
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13-Aug-2025     13:01

NIBE slides after Q1 PAT slumps 76% YoY to Rs 2 cr

Revenue from operations fell 25.04% to Rs 82.50 crore in Q1 FY26, down from Rs 110.06 crore in the same quarter last year.

Profit before tax (PBT) declined 83.63% to Rs 1.79 crore in Q1 FY26, as against Rs 10.94 crore posted in Q1 FY25.

Meanwhile, the company noted the resignation of Ranjan Choudhary, chief executive officer (CEO), effective from 12 August 2025, due to internal reorganization within the group.

Further, the board has approved the appointment of Prakash Khose as the new CEO of the company, effective from 12 August 2025.

NIBE operates in manufacturing critical components for the defence sector, electric vehicles (E-Vehicles), and software development. The company is engaged in fabrication and machining of components used in the defence sector, as well as assembly of components for E-Vehicles.

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