 "IRB Infra hits 52-week low on disappointing Q2 results")
IRB Infrastructure Developers has dipped 6% to Rs 178, also its 52-week low on the BSE in intra-day trade, after the company reported a lower-than-expected consolidated net profit of Rs 142 crore for the quarter ended September 30, 2016 (Q2FY17), due to higher finance cost. The company had profit of Rs 149 crore in the same quarter last fiscal.
Total income from operations increased 12% to Rs 1,291 crore against Rs 1,149 crore in the corresponding quarter of previous fiscal. Finance costs rose 42% to Rs 340 crore from Rs 240 crore in a year ago quarter.
Analysts on an average expected profit of Rs 166 crore on income of Rs 1,401 crore for the quarter.
At 02:57 pm, the stock was down 5% at Rs 181 on BSE as compared to 0.77% rise in the S&P BSE Sensex. A combined 3.94 million shares changed hands on the counter on BSE and NSE so far.
Total income from operations increased 12% to Rs 1,291 crore against Rs 1,149 crore in the corresponding quarter of previous fiscal. Finance costs rose 42% to Rs 340 crore from Rs 240 crore in a year ago quarter.
Analysts on an average expected profit of Rs 166 crore on income of Rs 1,401 crore for the quarter.
At 02:57 pm, the stock was down 5% at Rs 181 on BSE as compared to 0.77% rise in the S&P BSE Sensex. A combined 3.94 million shares changed hands on the counter on BSE and NSE so far.
