 "Sadbhav Engineering hits 52-week low; tanks 30% post Q3 results")
Sadbhav Engineering has dipped 10% to Rs 221, extending its over 20% fall in past six trading sessions on the BSE, after the company reported 27.5% year on year (YoY) decline in net profit at Rs 27.35 crore for the third quarter ended December 31, 2015 (Q3FY16) on the back of single digit growth in operational income.
The construction & engineering company had profit of Rs 37.73 crore in the same quarter last fiscal.
Income from operations of the company during the quarter grew 4.3% at Rs 753 crore on YoY basis.
The company said no new orders were added during Q3FY16. The project worth of Rs 319 crore has been reduced from the order book due to non-allotment of the project by Maharashtra State Road Development Corporation, it added.
As of December 31, 2015, the company has order book position in hand of Rs 8,273 crore against Rs 9,306 crore at the end of September 2015 quarter.
The stock hit a 52-week low of Rs 217 on the BSE in intra-day trade, fallen 30% from Rs 312 on February 2, 2016 post Q3 results.
A combined 133,029 shares changed hands on the counter on the BSE and NSE till 12:24 PM.
The construction & engineering company had profit of Rs 37.73 crore in the same quarter last fiscal.
Income from operations of the company during the quarter grew 4.3% at Rs 753 crore on YoY basis.
The company said no new orders were added during Q3FY16. The project worth of Rs 319 crore has been reduced from the order book due to non-allotment of the project by Maharashtra State Road Development Corporation, it added.
As of December 31, 2015, the company has order book position in hand of Rs 8,273 crore against Rs 9,306 crore at the end of September 2015 quarter.
The stock hit a 52-week low of Rs 217 on the BSE in intra-day trade, fallen 30% from Rs 312 on February 2, 2016 post Q3 results.
A combined 133,029 shares changed hands on the counter on the BSE and NSE till 12:24 PM.
