Aksh Optifibre drops after poor Q3 earnings

Aksh Optifibre lost 2.94% to Rs 16.50 at 10:53 IST on BSE after net profit fell 58.9% to Rs 2.53 crore on 11.4% decline in net sales to Rs 46.07 crore in Q3 December 2013 over Q3 December 2012.

The Q3 result was announced after market hours on Monday, 3 February 2014.

Meanwhile, the S&P BSE Sensex was down 133.82 points or 0.66% at 20,075.44.

On BSE, so far 29,000 shares were traded in the counter as against average daily volume of 62,307 shares in the past one quarter.

The stock hit a high of Rs 16.80 and a low of Rs 15.80 so far during the day. The stock had hit a 52-week high of Rs 19.30 on 23 January 2014. The stock had hit a 52-week low of Rs 13.20 on 23 December 2013.

The stock had outperformed the market over the past one month till 3 February 2014, surging 8.28% compared with the Sensex's 3.08% fall. The scrip also outperformed the market in past one quarter, jumping 16.92 % as against Sensex'SSs 4.85% fall.

The small-cap company has equity capital of Rs 74.28 crore. Face value per share is Rs 5.

Aksh Optifibre designs, manufactures and sells optical fibre cables.

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