Savita Oil Technologies slips on weak Q1 results

Savita Oil Technologies plunged after the company's net profits declined 16% to Rs 6 crore

Savita Oil Technologies plunged 8% to Rs 711 on the BSE after the company's net profits declined 16% to Rs 6 crore on 1% growth in net sales to Rs 486 crore in Q1 June 2014 over corresponding period previous year.

 

Savita Oil Technologies manufactures transformer oil, paraffin wax and lubricating oil.

 

The shares of Savita Oil Technologies opened at Rs 769, touched a high of Rs 769 and a low of Rs 696 on the BSE. A total of 20,358 shares have been traded on the BSE so far.