Amtek Auto slips as net loss widens in June quarter

Amtek Auto was down 3.97% to Rs 42.35 at 10:22 IST on BSE after the company reported net loss of Rs 319.68 crore in the quarter ended 30 June 2016, higher than net loss of Rs 157.60 crore in the quarter ended 30 June 2015.

The result was announced yesterday, 13 September 2016 when the stock market was closed on account of Bakri Id.

Meanwhile, the S&P BSE Sensex was down 54.84 points or 0.19% at 28,298.70.

On BSE, so far 3.61 lakh shares were traded in the counter as against average daily volume of 10.06 lakh shares in the past one quarter. The stock hit a high of Rs 43.60 and a low of Rs 41.25 so far during the day. The stock had hit a 52-week low of Rs 26.05 on 12 February 2016. The stock had hit a 52-week high of Rs 57.90 on 14 September 2015. The stock had underperformed the market over the past one month till 12 September 2016, sliding 3.18% compared with 0.71% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, gaining 27.27% as against Sensex's 6.45% rise.

The small-cap company has equity capital of Rs 44.95 crore. Face value per share is Rs 2.

The company's total income declined 33.45% to Rs 576.49 crore in the quarter ended 30 June 2016 over the quarter ended 30 June 2015.

Amtek Auto is one of the largest integrated automotive component manufacturers in India with a strong global presence. Amtek Auto has a presence in forging, grey and ductile iron casting, gravity and high-pressure aluminum die casting and machining and sub-assembly. The company also manufactures components for non-auto sectors such as the railways, specialty vehicles, aerospace, agricultural and heavy earth moving equipment. The company has manufacturing facilities in India, Europe and North America.

Powered by Capital Market - Live News