Apar Industries declines after weak Q1 earnings

Apar Industries fell 3.6% to Rs 743.45 at 14:22 IST on BSE after consolidated net profit fell 16.86% to Rs 38.96 crore on 17.9% increase in total income to Rs 1426.78 crore in Q1 June 2017 over Q1 June 2016.

The result was announced during market hours today, 9 August 2017.

Meanwhile, the S&P BSE Sensex was down 150.41 points, or 0.47% at 31,863.78. The S&P BSE Small-Cap index was down 199.04 points, 1.25% at 15,705.

On the BSE, 6,969 shares were traded on the counter so far as against the average daily volumes of 6,618 shares in the past one quarter. The stock had hit a high of Rs 768.15 and a low of Rs 743.45 so far during the day. The stock had hit a record high of Rs 909 on 31 May 2017 and a 52-week low of Rs 510 on 29 September 2016.

The stock had underperformed the market over the past one month till 8 Aug 2017, declining 3.43% compared with the Sensex's 2.08% rise. The scrip had also underperformed the market over the past one quarter declining 3.72% as against the Sensex's 6.98% rise. The scrip had, however, outperformed the market over the past one year advancing 39.67% as against the Sensex's 13.6% rise.

The small-cap company has equity capital of Rs 38.27 crore. Face value per share is Rs 10.

Apar Industries is engaged in the business of manufacture of conductors, transformer, specialty oils and power and telecom cables.

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