 "Dilip Buildcon dips on weak Q2 results")
Dilip Buildcon has dipped 13% to Rs 220 on the BSE in intra-day trade after the company reported a sharp 83% year on year (YoY) decline in its standalone net profit at Rs 6.97 crore for the quarter ended September 30, 2016 (Q2FY17).
The company is in the business of development of infrastructure facilities of Engineering Procurement and Construction (EPC) had profit of Rs 40.23 crore in year ago quarter.
Total income from operations increased 3.3% YoY at Rs 916 crore, while total expenditure rose 9% to Rs 815 crore over the previous year quarter.
The stock had a strong run-up in past two weeks rising an over 25% on expectation of good Q2 results. It rallied 26% from Rs 202 on November 17, to Rs 254, as compared to 1% rise in the S&P BSE Sensex till yesterday.
Dilip Buildcon had raised Rs 650-crore through initial public offer by issuing shares at price of Rs 219 per share.
At 11:28 am; the stock was down 10.5% at Rs 227 on the BSE, against 0.85% decline in the benchmark index. A combined 650,032 shares changed hands on the counter on the BSE and NSE so far.
The company is in the business of development of infrastructure facilities of Engineering Procurement and Construction (EPC) had profit of Rs 40.23 crore in year ago quarter.
Total income from operations increased 3.3% YoY at Rs 916 crore, while total expenditure rose 9% to Rs 815 crore over the previous year quarter.
The stock had a strong run-up in past two weeks rising an over 25% on expectation of good Q2 results. It rallied 26% from Rs 202 on November 17, to Rs 254, as compared to 1% rise in the S&P BSE Sensex till yesterday.
Dilip Buildcon had raised Rs 650-crore through initial public offer by issuing shares at price of Rs 219 per share.
At 11:28 am; the stock was down 10.5% at Rs 227 on the BSE, against 0.85% decline in the benchmark index. A combined 650,032 shares changed hands on the counter on the BSE and NSE so far.
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