AIA Engineering slipped 0.68% to Rs 1604.85 after the company's consolidated net profit fell 9.1% to Rs 141.62 crore on 3.7% decline in net sales to Rs 830.31 crore in Q4 March 2020 over Q4 March 2019.
Profit before tax (PBT) stood at Rs 185.74 crore in Q4 FY20, down by 2.4% from Rs 190.25 crore in Q4 FY19. Current tax expenses in the fourth quarter surged 27.1% to Rs 41.55 crore as against Rs 32.70 crore in the same period last year.
AIA Engineering manufactures high chromium wear, corrosion, and abrasion resistant parts used by the cement, mining, and thermal power generation industries.
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