ITI shares jump 8% after nearly turning profitable, 74% revenue growth in Q4

Shares of ITI Ltd. surged as much as 8% on Wednesday, May 28, in response to the company's quarterly results that were reported after market hours on Tuesday.

ITI nearly turned profitable in the March quarter, as its net loss narrowed to ₹4.4 crore, compared to a loss of ₹238.8 crore during the same quarter last year. However, it must be noted that the decline in the state-run company's net loss was also aided by an exceptional gain of ₹62.41 crore.

The last instance of the bottomline being at these levels for ITI, was back in March of 2022, when it had reported a net profit of ₹356 crore.

Revenue for the company increased by 74% from the year-ago quarter to ₹1,045.7 crore. ITI had reported a topline of ₹601 crore in the base quarter.

ITI's Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) stood at a loss of ₹28.2 crore, which is also narrower than the EBITDA loss of ₹173.8 crore during the base quarter.

ITI is one of those PSU stocks that do not have a significant free float in the market. At the end of the March quarter, the government still held a 90% stake in the company. Even among the public shareholders, the Special Investment Fund has a 7.9% stake in the company, leaving very little free float.

Shares of ITI are trading 8% higher on Wednesday at ₹334.1. Ahead of the results announcement on Tuesday, shares of ITI had ended in an upper circuit of 10%. The stock has risen 18% in the last one month. Despite this, shares of the state-run company are still down 19% so far in 2025.