Pricol plunges on weak Q1 earnings

Net profit for the June quarter slumped 86% to Rs 6 crore compared to Rs 44 crore in June last year

Pricol dipped 8% to Rs 44 on the BSE after the company's net profit in the June quarter sharply declined by 86% to Rs 6 crore. The company had recorded profit of Rs 44 crore in the same quarter last fiscal.

However, total operational income of the company increased to Rs 232 crore against Rs 208 crore in the corresponding quarter of previous year and finance cost decreased from Rs 2 crore  to Rs 1 crore.

Pricol is engaged in the business of manufacturing dashboard instruments & accessories, oil pumps and idle speed control valve assembly, etc.

The shares of Pricol opened at Rs 48, touched a high of Rs 48 and a low of Rs 43 on the BSE. A total of 118,462 shares have been exchanged on the BSE so far.