ACME Solar Holdings experienced a 7.5% decrease in its shares on November 26 due to a significant decline in its Q2 net profit.

The stock, which was trading at Rs 250.45 on the NSE, dropped just two weeks after its market debut.

In the July-September period, the company's consolidated net profit fell by 60% year-on-year to Rs 15.29 crore, compared to Rs 38.63 crore in the same quarter of the previous fiscal year.

This decline in net profit was primarily caused by lower revenue, as the company had monetized 369 MW of operational assets in the latter half of the previous fiscal year.

As a result, the revenue from operations decreased by over 17% year-on-year to Rs 295.14 crore, compared to Rs 356.95 crore in the prior year.

The EBITDA margin for the quarter slightly decreased to 3.7% due to rising manpower expenses and a reduced asset base resulting from the asset monetization.