 "SRF dips on disappointing Q3 results")
Shares of SRF has dipped 6% to Rs 933 on National Stock Exchange (NSE) after reporting a marginal 1% year on year growth in net profit at Rs 72.62 crore for the third quarter ended December 31, 2014 (Q3FY15) due to increased depreciation and interest expenses.
The company engaged in the manufacture of chemical based industrial intermediates had profit of Rs 72.06 crore in a year ago quarter.
Net sales during the third quarter of 2014-15 increased marginally to Rs 870 crore against Rs 859 crore during Q3FY15 in spite of reduction in commodity prices, SRF said in a statement.
The operations have performed as per expectations. While some adverse impact of the sharp fall in the commodity prices was felt in the current quarter, a residual impact will be experienced in the next quarter, it added.
Meanwhile, the board approved an interim dividend at the rate of 50% amounting to Rs 5 per share.
The stock opened at Rs 959 and touched a low of Rs 882 on NSE. A combined 148,361 shares changed hands on the counter till 1000 hours on NSE and BSE.
The company engaged in the manufacture of chemical based industrial intermediates had profit of Rs 72.06 crore in a year ago quarter.
Net sales during the third quarter of 2014-15 increased marginally to Rs 870 crore against Rs 859 crore during Q3FY15 in spite of reduction in commodity prices, SRF said in a statement.
The operations have performed as per expectations. While some adverse impact of the sharp fall in the commodity prices was felt in the current quarter, a residual impact will be experienced in the next quarter, it added.
Meanwhile, the board approved an interim dividend at the rate of 50% amounting to Rs 5 per share.
The stock opened at Rs 959 and touched a low of Rs 882 on NSE. A combined 148,361 shares changed hands on the counter till 1000 hours on NSE and BSE.
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