VA Tech Wabag lost 3.48% to Rs 543.70 at 11:17 IST on BSE after net profit fell 3.2% to Rs 17.02 crore on 0.5% decline in net sales to Rs 216.74 crore in Q2 September 2013 over Q2 September 2012.
The Q2 result was announced after market hours on Thursday, 7 November 2013.
Meanwhile, the S&P BSE Sensex was down 80.94 points or 0.39% at 20,741.83.
On BSE, 1,877 shares were traded in the counter as against average daily volume of 5,733 shares in the past one quarter.
The stock was volatile. The stock lost as much as 5.91% at the day's low of Rs 530 so far during the day. The stock rose as much as 1.72% at the day's high of Rs 573 so far during the day. The stock had hit a 52-week high of Rs 589 on 11 January 2013. The stock had hit a 52-week low of Rs 380.65 on 30 July 2013.
The stock had outperformed the market over the past one month till 7 November 2013, surging 23.15% compared with the Sensex's 4.66% rise. The scrip had also outperformed the market in past one quarter, jumping 44.36% as against Sensex's 11.56% rise.
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The small-cap company has equity capital of Rs 5.31 crore. Face value per share is Rs 2.
Commenting on the company's Q2 performance, Mr. Rajiv Mittal, MD, VA Tech Wabag said, "It is very pleasing to see positive results for the hardwork put in by the team during difficult times. Both Indian & Overseas operations have shown excellent performance. I am glad that our International Business has achieved breakeven at the PAT level in the current quarter. We expect further improvement and favorable results from International business in the quarters to come. With a robust order intake during the year, we have successfully built a healthy order book of Rs 6600 crore".
VA Tech Wabag has surpassed Rs 2000 crore of order intake during the year. The company had earlier reported an order intake of over Rs 1000 crore during Q1 June 2013 and has repeated the achievement by garnering further Rs 1000 crore of order intake during Q2 September 2013.
Commenting on this achievement, Mr. Rajiv Mittal said, "I am happy that the company could repeat the robust order intake performance of Q1. Our order book is strong and I am confident that we will be meeting the annual guidance numbers on order intake provided to our investors much earlier than the targeted dates".
The WABAG Group acts as a systems specialist and full service provider with a focus on the planning, installation and operation of drinking and waste water plants for local government and industry in the growth markets of Asia, North Africa, Middle East, the Central and Eastern Europe states.
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