Punj Lloyd rose 3.29% to Rs 20.40 at 9:55 IST on BSE after the company's net loss narrowed in Q1 June 2016 over Q1 June 2015.
Meanwhile, the BSE Sensex was up 31.11 points, or 0.11%, to 27,805.99.
On BSE, so far 2.46 lakh shares were traded in the counter, compared with average daily volume of 3.08 lakh shares in the past one quarter. The stock hit a high of Rs 21.10 and a low of Rs 20.35 so far during the day. The stock hit a 52-week high of Rs 33.90 on 11 August 2015. The stock hit a record low of Rs 17.65 on 7 June 2016. The stock had underperformed the market over the past 30 days till 10 August 2016, falling 11.43% compared with 0.12% decline in the Sensex. The scrip had also underperformed the market in past one quarter, falling 11.24% as against Sensex's 7.70% rise.
The small-cap company has equity capital of Rs 66.42 crore. Face value per share is Rs 2.
Punj Lloyd reported net loss of Rs 211.39 crore in Q1 June 2016, lower than net loss of Rs 581.84 crore in Q1 June 2015. Total income rose 45.5% to Rs 1010.17 crore in Q1 June 2016 over Q1 June 2015. The result was announced after market hours yesterday, 10 August 2016.
Earnings before interest, taxes, depreciation and amortization (EBITDA) was reported at Rs 36 crore Q1 June 2016 compared with loss of Rs 289 crore in Q1 June 2015.
The company's chairman and managing director, Atul Punj, said that the company improved its performance as a result of the turnaround efforts put in across various fronts. The order backlog remains strong at Rs 21618 crore and execution of all projects across geographies is progressing in line with defined timelines. The firm is seeing a gradually improving environment both in India and overseas and are optimistic of opportunities unfolding. The company's thrust is on improving the quality of its balance sheet, execution of projects, recovery of claims, cash flows and settling all legacy issues.
Punj Lloyd is a diversified international conglomerate offering engineering procurement construction (EPC) services in energy and infrastructure along with engineering and manufacturing capabilities in the defence sector.
Powered by Capital Market - Live News
