Suprajit Engineering lost 3.57% to Rs 287.45 at 11:51 IST on BSE after consolidated net profit fell 7.33% to Rs 22.61 crore on 26.83% growth in total income to Rs 353.60 crore in Q1 June 2017 over Q1 June 2016.
The result was announced during market hours today, 13 September 2017.Meanwhile, the S&P BSE Sensex was up 77.67 points or 0.24% at 32,236.33. The S&P BSE Mid-Cap index advanced 66.03 points or 0.41% at 16,103.12.
On the BSE, 1,848 shares were traded on the counter so far as against the average daily volumes of 34,819 shares in the past one quarter. The stock had hit a high of Rs 302 and a low of Rs 286.50 so far during the day. The stock had hit a record high of Rs 337.75 on 23 June 2017 and a 52-week low of Rs 173.95 on 9 November 2016.
The stock had outperformed the market over the past one month till 12 September 2017, advancing 13.24% compared with the Sensex's 3.03% rise. The stock had also outperformed the market over the past one quarter, gaining 5.65% as against the Sensex's 3.42% rise. The scrip had also outperformed the market over the past one year, advancing 55.54% as against the Sensex's 13.42% rise.
The mid-cap company has equity capital of Rs 13.13 crore. Face value per share is Rs 1.
Suprajit Engineering said there are continued challenges in readiness along with glitches with regard to GST at various levels which includes suppliers, customers, distributors, software providers, GST portal etc. It is expected that it may take 1-2 quarters to fully resolve these issues and business to return to normal, the company said in a statement.
Suprajit Engineering is one of the leading manufacturers of automotive cables in India.
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