Geometric Limited has tanked 17% to Rs 96 from intra-day high on back of heavy volumes after mid-cap information technology company said that its consolidated net profit has declined by 13% at Rs 17.88 crore for the quarter ended September 2012 over the previous quarter. Net sales too grew single digit by 2.2% at Rs 230 crore on quarter on quarter basis.
“EBITDA (earnings before the deduction of interest, tax and amortization expenses) margin for the quarter declined to 16.1% against 17.4% in Q1FY13 mainly due to lower Contribution, impact of one time transactions in Q1 & forex movements,” Geometric said in a statement.
The stock opened at Rs 114 and hit a high of Rs 116 on the BSE. As many as a combined 5.72 million shares have already changed hands on the counter so far against an average sub one million shares that were traded daily in past two weeks.