Avadh Sugar turns sour on drop in Q3 PAT

Avadh Sugar & Energy declined 1.9% to Rs 657.35 at 14:27 IST on BSE after net profit dropped 26.73% to Rs 43.04 crore on 45.55% rise in total income to Rs 683.45 crore in Q3 December 2017 over Q3 December 2016.

The result was announced during market hours today, 5 February 2018. Post the applicability of GST from July 2017, revenue from operations after the effective date was disclosed net of GST whereas excise duty and cess formed part of expenses in previous periods, hence revenue from operations for the quarter are not comparable with the previous periods.

Meanwhile, the S&P BSE Sensex was down 384.03 points or 1.1% at 34,682.72. The BSE Small-Cap index was down 137.08 points or 0.77% at 17,710.45, outperforming the Sensex.

On the BSE, 5,166 shares were traded on the counter so far as against the average daily volumes of 4,187 shares in the past one quarter. The stock had hit a high of Rs 687 and a low of Rs 620 so far during the day. The stock had hit a record high of Rs 1,315 on 7 November 2017. The stock had hit a record low of Rs 420 on 28 July 2017.

The stock had underperformed the market over the past 30 days till 2 February 2018, falling 16.3% compared with 3.71% rise in the Sensex. The scrip had also underperformed the market in past one quarter, dropping 45.97% as against Sensex's 4.45% rise.

The small-cap company has equity capital of Rs 10.01 crore. Face value per share is Rs 10.

Avadh Sugar & Energy was incorporated on 19 March 2015 with the main object is to deal in sugar and sugar products, spirits and alcohol of denatured of any strength and all other products arising out of the manufacturing process of sugar or resultant of any activity related to sugar business.

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