Sanghvi Movers slips 40% in 6 trading sessions on weak Q1 results

The stock hit a fresh 52-week low of Rs 141, slipped 40% from Rs 237 on August 7

Sanghvi Movers hit a fresh 52-week low of Rs 141, down 9% on BSE, extending its past one week fall, after reporting a net loss of Rs 3.64 crore in June quarter (Q1FY17), due to lower operational income. The company had profit of Rs 25 crore in the same quarter last fiscal.

Income from operations more than halved to Rs 65 crore from Rs 139 crore in the corresponding quarter of previous fiscal. It posted other income of Rs 14 crore, includes a sum of Rs 13.37 crore towards profit on sale of 14 numbers cranes sold during the