 "IRB Infra hits 52-week low post Q2 results")
IRB Infrastructure Developers has dipped 6% to Rs 178, also its 52-week low on the BSE in intra-day trade, after the company reported a lower-than-expected consolidated net profit of Rs 142 crore for the quarter ended September 30, 2016 (Q2FY17), due to higher finance cost. The company had profit of Rs 149 crore in the same quarter last fiscal.
Total income from operations increased 12% to Rs 1,291 crore against Rs 1,149 crore in the corresponding quarter of previous fiscal. Finance costs rose 42% to Rs 340 crore from Rs 240 crore in a year ago quarter.
Analysts on an average expected profit of Rs 166 crore on income of Rs 1,401 crore for the quarter.
At 02:57 pm, the stock was down 5% at Rs 181 on BSE as compared to 0.77% rise in the S&P BSE Sensex. A combined 3.94 million shares changed hands on the counter on BSE and NSE so far.
Total income from operations increased 12% to Rs 1,291 crore against Rs 1,149 crore in the corresponding quarter of previous fiscal. Finance costs rose 42% to Rs 340 crore from Rs 240 crore in a year ago quarter.
Analysts on an average expected profit of Rs 166 crore on income of Rs 1,401 crore for the quarter.
At 02:57 pm, the stock was down 5% at Rs 181 on BSE as compared to 0.77% rise in the S&P BSE Sensex. A combined 3.94 million shares changed hands on the counter on BSE and 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%