 "Astra Microwave Products dips on disappointing Q1 results")
Astra Microwave Products has dipped nearly 9% to Rs 115 on the BSE in an otherwise strong market after the company reported net loss of Rs 2.43 crore for the quarter ended June 30, 2016 (Q1FY17), because of lower operational income. The company engaged in defence sector had registered a profit of Rs 4.90 crore in the year ago quarter.
Total income from operations during the quarter under review declined by 43% at Rs 56.82 crore against Rs 124 crore in the corresponding quarter of previous fiscal.
The company said it has an order backlog of Rs 569 crore as of Q1FY17 which is executable in the next 12 to 18 months period. Cumulative order book during the year up to Q1F17 is Rs 84 crore.
At 09:30 AM, the stock was down 7.5% at Rs 116 on the BSE compared to 0.64% rise in the S&P BSE Sensex. A combined 432,189 shares changed hands on the counter on the BSE and NSE.
Total income from operations during the quarter under review declined by 43% at Rs 56.82 crore against Rs 124 crore in the corresponding quarter of previous fiscal.
The company said it has an order backlog of Rs 569 crore as of Q1FY17 which is executable in the next 12 to 18 months period. Cumulative order book during the year up to Q1F17 is Rs 84 crore.
At 09:30 AM, the stock was down 7.5% at Rs 116 on the BSE compared to 0.64% rise in the S&P BSE Sensex. A combined 432,189 shares changed hands on the counter on the BSE and NSE.