 "Excel Crop Care dips on disappointing Q3 numbers")
Excel Crop Care dipped 8% to Rs 962 on BSE after the company engaged in agrochemicals business reported a disappointing set of numbers for the third quarter of current financial year 2014-2015 (Q3FY15).
The company posted a standalone net profit of Rs 1 crore in Q3FY15 against Rs 14 crore in the corresponding quarter of previous year. Net sales too declined by 19% to Rs 165 crore from Rs 204 crore in a year ago quarter.
“Adverse climate conditions resulted in delayed Rabi showing and reduced acreages which impacted the company’s performance in the quarter,” Excel Crop Care said in a statement.
The stock opened at Rs 978 and hit a low of Rs 933 on BSE. A combined around 33,000 shares changed hands in first 20 minutes of trade on BSE and NSE.
The company posted a standalone net profit of Rs 1 crore in Q3FY15 against Rs 14 crore in the corresponding quarter of previous year. Net sales too declined by 19% to Rs 165 crore from Rs 204 crore in a year ago quarter.
“Adverse climate conditions resulted in delayed Rabi showing and reduced acreages which impacted the company’s performance in the quarter,” Excel Crop Care said in a statement.
The stock opened at Rs 978 and hit a low of Rs 933 on BSE. A combined around 33,000 shares changed hands in first 20 minutes of trade on BSE and NSE.