Gandhi Special Tubes slumped 6.53% to Rs 277.50 at 11:55 IST on BSE after net profit galloped 7700% to Rs 3.12 crore on 13.1% decline in net sales to Rs 17.45 crore in Q4 March 2015 over Q4 March 2014.
The Q4 result was announced after market hours yesterday, 21 May 2015.
Meanwhile, the S&P BSE Sensex was up 200.11 points or 0.72% at 28,009.46.
On BSE, so far 4,647 shares were traded in the counter as against average daily volume of 1,844 shares in the past one quarter.
The stock hit a high of Rs 295 and a low of Rs 277 so far during the day. The stock had hit a 52-week low of Rs 138.60 on 29 May 2014. The stock had hit a record high of Rs 311 on 21 January 2015.
The stock had outperformed the market over the past one month till 21 May 2015, surging 7.61% compared with Sensex's 0.48% rise. The scrip had also outperformed the market in past one quarter, advancing 20.64% as against Sensex's 4.86% fall.
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The small-cap company has equity capital of Rs 7.35 crore. Face value per share is Rs 5.
Gandhi Special Tubes' bottom line during Q4 March 2014 was adverserly impacted by hefty tax outgo vis-vis Q4 March 2015. There was a tax outgo of Rs 5.64 crore in Q4 March 2014 whereas the tax expense was much lower at Rs 1.89 crore in Q4 March 2015. Also, surge in other income aided bottom line during the quarter. Other income spurted 352.5% to Rs 1.81 crore in Q4 March 2015 over Q4 March 2014.
Gandhi Special Tubes is engaged in manufacturing and marketing seamless and welded steel tubes.
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