Amara Raja is down despite the not-too-bad Q3FY15 numbers. Yesterday, in anticipation of very good numbers, the stock had hit a new high at Rs.894.95 but today, post the numbers, the stock has tumbled down over 2.5% at Rs.868.20, with an intra day low at Rs.842.20.

The third quarter performance is actually very much in line with what it posted in Q2, yet, given the lackluster mood on the street, the stock has tanked. The company posted a 25% (YoY) rise in net sales at Rs.1059 crore and after a 28% rise in operating cost, EBITDA came in at Rs.180 crore v/s Rs.150 crore in previous Q3. Yes, the market could be aggrieved due to the fall in margins – down from 17.42% to 16.88%. It ended the quarter with a net profit of Rs.102 crore, up 7%. Marker expectation was a net profit of Rs.103 crore.