Amtek Auto slumps after dismal Q3 earnings

Amtek Auto fell 9.11% to Rs 135.65 at 11:05 IST on BSE after the company reported net loss of Rs 157.60 crore in Q3 June 2015 as against net profit of Rs 86.08 crore in Q3 June 2014.

The result was announced after market hours yesterday, 14 August 2015.

Meanwhile, the BSE Sensex was down 309.53 points, or 1.10%, to 27,757.78.

On BSE, so far 3.52 lakh shares were traded in the counter, compared with an average volume of 5.44 lakh shares in the past one quarter.

The stock hit a high of Rs 141.50 and a low of Rs 133.20 so far during the day. The stock hit a 52-week high of Rs 266 on 12 September 2014. The stock hit a 52-week low of Rs 129.20 on 24 March 2015.

The stock had underperformed the market over the past one month till 14 August 2015, falling 3.49% compared with 0.48% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 0.40% as against Sensex's 3.17% rise.

The mid-cap company has an equity capital of Rs 44.06 crore. Face value per share is Rs 2.

Amtek Auto's net sales declined 12.73% to Rs 854.22 crore in Q3 June 2015 over Q3 June 2014.

Amtek Auto is a part of the Amtek Group. The Amtek Group, headquartered in India, is one of the largest integrated component manufacturers in India with a strong global presence. It is also into forging and integrated machining companies. The Group has operations across forging, iron and aluminium casting, machining and sub-assemblies.

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