Sintex Industries dipped 6% to Rs 39.35 after the company reported 10% year-on-year (yoy) drop in consolidated operating profit at Rs 161 crore for the quarter ended June 2013 due to higher depreciation and interest cost. The company had an operating profit of Rs 178 crore in a year ago quarter.
The company’s net profit however, grew marginally by 2.2% yoy at Rs 46 crore against Rs 45 crore mainly due to lower foreign exchange loss. Meanwhile, total income from operations grew 4.5% to Rs 1,124 crore on yoy basis.
“The company has recorded net foreign exchange loss of Rs 3.70 crore compared to Rs 28.86 crore in a year ago quarter,” Sintex Industries said in a statement.
The stock opened at Rs 42.20 and hit a high of Rs 43.95 on BSE before announcement of results. A combined 11.73 million shares have changed hands on the counter so far against an average 3.5 million shares that were traded daily in the past two weeks on BSE and NSE.
The company’s net profit however, grew marginally by 2.2% yoy at Rs 46 crore against Rs 45 crore mainly due to lower foreign exchange loss. Meanwhile, total income from operations grew 4.5% to Rs 1,124 crore on yoy basis.
“The company has recorded net foreign exchange loss of Rs 3.70 crore compared to Rs 28.86 crore in a year ago quarter,” Sintex Industries said in a statement.
The stock opened at Rs 42.20 and hit a high of Rs 43.95 on BSE before announcement of results. A combined 11.73 million shares have changed hands on the counter so far against an average 3.5 million shares that were traded daily in the past two weeks on BSE and NSE.
