BGR Energy has dipped 5% at Rs 412 after reporting 17% year-on-year dip in net profit at Rs 50.25 crore for the quarter ended June 30 compared to Rs 60.54 crore in the corresponding quarter of the previous fiscal.
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Net sales too dipped 19% at Rs 731 crore (Rs 905 crore) on a year-on-year basis, the engineering procurement and construction major said in a filing to the stock exchanges.
However, the company's EBITDA grew by 1.68% at Rs 96.08 crore during the quarter, it said.
"With coal linkage and environmental issues heading for resolution, contract awards for capacity addition from public sector segments is set to significantly increase in the current financial year," BGR Energy chairman and managing director BG Raghupathy said.
The stock is currently trading near its 52-week low of Rs 402 touched in February 2011. Around 208,562 shares have changed hands on the counter on the NSE and BSE till 1011 hours.
