Shanthi Gears declines on weak results

Shanthi Gears has declined over 4% after its net profit fell 18.6% in the quarter ended December, 2014

Shanthi Gears has declined over 4% to Rs 136.50 after its net profit fell 18.6% to Rs 3.76 crore in the quarter ended December, 2014 compared to the net profit of Rs 4.62 crore in the same quarter last fiscal.
 
The total income of the company increased by 3.3% at Rs 42.98 crore in the quarter ended December, 2014 from Rs 41.61 crore in the same quarter last year.
 
The total expenses of the company increased by around 10.4% in the quarter ended December, 2014 at Rs 40.83 crore from Rs 36.96 crore in the same quarter last fiscal.

 

 
The board of directors of the company has declared an interim dividend of Rs 0.50 per share for the financial year ending 31 March 2015 (FY 2015). The company said it has fixed 13 February 2015 as the record date for the purpose of payment of interim dividend.
 
The stock opened at Rs 142 and has hit a low of Rs 135.75 till 13:56 hrs. Meanwhile, around 1.4 lac shares have changed hands on NSE and BSE combined, so far.