Stock Crash: Here's why Blue Jet Healthcare shares fell 15% in two trading sessions

Shares of Blue Jet Healthcare Ltd. fell as much as 5.5% on Wednesday, July 23, following a 10% drop on Tuesday, in response to its June quarter results, that were lower on a sequential basis, although they were higher when compared to the same quarter last year.

The company's revenue increased to ₹354 crore during the June quarter, in comparison to the ₹162 crore it reported during the same quarter last year. When compared to the previous quarter, revenue growth stood at 4.4%.

Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) declined by 13.1% from the March quarter to ₹121 crore. However, that figure is nearly triple on a year-on-year basis.

EBITDA margin for the June quarter narrowed by over 700 basis points from the March quarter, even as they widened on a year-on-year basis.

Shares of Blue Jet Healthcare are trading 4.8% lower at ₹862. The stock is still up 150% from its IPO price of ₹346. On a year-to-date basis, the stock is up 50%.