Punj Lloyd fell 3.17% to Rs 51.90 at 10:25 IST on BSE after the company reported consolidated net loss of Rs 13.37 crore in Q1 June 2012, higher than net loss of Rs 12.25 crore in Q1 June 2011.
The company announced the results after market hours on Tuesday, 7 August 2012.
Meanwhile, the BSE Sensex was up 15.38 points or 0.09% to 17,617.16.
On BSE, 2.83 lakh shares were traded in the counter as against average daily volume of 4.70 lakh shares in the past one quarter.
The stock hit a high of Rs 56.70 and a low of Rs 51.70 so far during the day. The stock had hit a record low of Rs 37.05 on 20 December 2011. The stock had hit a 52-week high of Rs 65.90 on 22 February 2012.
The stock had underperformed the market over the past one month till 7 August 2012, falling 4.03% compared with the Sensex's 0.46% rise. The scrip had, however, outperformed the market in past one quarter, jumping 6.45% as against Sensex's 4.07% rise.
The engineering and construction company has equity capital of Rs 66.42 crore. Face value per share is Rs 2.
On a consolidated basis, Punj Lloyd's net sales rose 20.4% to Rs 2706.82 crore in Q1 June 2012 over Q1 June 2011.
As on 7 August 2012, Punj Lloyd Group has an order backlog of Rs 26206 crore. This is the total value of unexecuted orders as on 30 June 2012, and new orders received after that day, Punj said in a statement.
Commenting on the first quarter performance, Atul punj, Chairman, Punj Lloyd said, "While the macro environment continues to present challenges, we see a gradual improvement. Large capex spends are being embarked upon by oil & gas majors and we expect volume of work to increase in the Middle East. The pace of execution too has been encouraging. The developments in Libya, after the elections, have been positive and we are happy to commence work of our upstream operations. High interest costs continue to be a concern for the industry. We are seized of our high cost of borrowings and are intensely exploring opportunities to align our debt and revenue profile. This will both reduce our interest costs and minimize exchange rate risk. I look forward to improved performance going forward".
The Punj Lloyd Group is a diversified international conglomerate offering EPC services in energy and infrastructure along with engineering and manufacturing capabilities in the defence sector.
Powered by Capital Market - Live News
