Engineers India plunged 13% to Rs 240 on the BSE after posting a sharp drop in net profit at Rs 80 crore for the first quarter ended June 2014 (Q1), on the back of lower sales and higher expenditure. The company had recorded a profit of Rs 129 crore in the same quarter year ago.
Net sales declined 2% to Rs 435 crore in Q1 June 2014 over Q1 June 2013.
The company's total expenditure rose 15% to Rs 386 crore from Rs 329 crore cn the corresponding quarter last fiscal.
Also Read
Engineers India (EIL) is one of the leading design and engineering organizations in South Asia. EIL provides engineering consultancy and EPC services principally focused on the oil & gas and petrochemical industries.
The stock opened at Rs 269, touched a high of Rs 270 and a low of Rs 238 on the BSE. A total of 1,701,604 shares have been exchanged on the NSE so far.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%