Q3 Results: Kansai Nerolac, Nazara Tech Profits Plummet; What Hit Their Stocks?

• Kansai Nerolac reported an 82% profit decline to ₹121 crore, primarily due to higher expenses, a ₹44.7 crore labor code burden, and the absence of last year's ₹629 crore exceptional gain.
• Despite a 3.1% revenue increase, Kansai Nerolac's EBITDA fell by 2.3%, and margins dropped from 12.2% to 11.6%.
• Nazara Technologies saw a 35.8% profit drop to ₹8.8 crore and a 24% revenue decrease to ₹406 crore.
• Nazara Tech's EBITDA, however, surged by 80.7% to ₹67.4 crore, with margins improving to 16.6% from 7%, attributed to effective cost control.
• Both companies, part of the BSE 1000, announced their Q3 results post-market close, with distinct reasons for their profit declines.

Why It Matters: Kansai Nerolac and Nazara Tech experienced significant Q3 profit declines due to varied factors.