Astral Poly Technik dips 2% on closure of Baddi unit

Astral Poly Technik dipped 2%, or Rs 9 on the National Stock Exchange (NSE) to Rs 375 levels after the company said that it has closed down operations at manufacturing unit at Baddi, Himachal Pradesh as it has become commercially unviable to run the plant.

By comparison, the CNX Nifty was trading 0.4% higher at 8,204 levels at 9:45am. CLICK HERE FOR THE COMPANY RELEASE

Meanwhile, the company reported 40.32% decline in its net profit to Rs 16.58 crore for the March 2015 quarter, as against Rs 27.78 crore during the previous quarter. However, sales rose 11.34% to Rs 375.16 crore year-on-year.

For the full year, net profit declined 10.84% to Rs 68.84 crore in the year ended March 2015 as against Rs 77.21 crore during the previous year. CLICK HERE FOR THE FULL REPORT

On Friday, the stock opened at Rs 375.50 on the NSE and touched a high/low of Rs 379.40/Rs 368.05 on the NSE in intra-day deals.