Sintex Ind hits 3-yr low on weak Q4 earnings
Consolidated net profit down 46% at Rs 91 crore on y-o-y basis
Sintex Industries is trading lower by 3% at Rs 59, after reporting 46% year-on-year (y-o-y) fall in its consolidated net profit at Rs 91 crore for the fourth quarter of FY12. Total income too, declined 31% at Rs 1,015 crore on y-o-y basis, the plastic products manufacturer said in a filing.
EBITDA (earnings before interest, taxes, depreciation, and amortization) has fallen 43% to Rs 172 crore from Rs 300 crore during the same period. Operating profit margins declined almost 400 bps to 16.94% from 20.54% during the recently concluded quarter.
The stock opened at Rs 60.50 and hit a three-year low of Rs 58.30 on the Bombay Stock Exchange. A combined 2.99 million shares have changed hands on the counter in early noon trades on both the exchanges.