Ballarpur Industries drops after reverse turnaround in Q1

Ballarpur Industries lost 4.62% to Rs 13.22 at 15:10 IST on BSE, after the company reported net loss of Rs 32.28 crore in Q1 June 2016, as compared to net profit of Rs 0.47 crore in Q1 June 2015.

The result was announced after market hours yesterday, 1 September 2016.

Meanwhile, the S&P BSE Sensex was up 113.29 points or 0.4% at 28,536.77

On BSE, so far 3.56 lakh shares were traded on the counter as against average daily volume of 2.49 lakh shares in the past one quarter. The stock hit a high of Rs 13.60 and a low of Rs 13.17 so far during the day. The stock had hit a 52-week high of Rs 21.80 on 1 January 2016. The stock had hit a 52-week low of Rs 11.80 on 29 February 2016. The stock had underperformed the market over the past 30 days till 1 September 2016, falling 4.61% compared with 2.62% rise in the Sensex. The scrip had also underperformed the market in past one quarter, sliding 13.1% as against Sensex's 5.89% rise.

The small-cap company has an equity capital of Rs 131.10 crore. Face value per share is Rs 2.

Ballarpur Industries' net sales fell 23.26% to Rs 102.42 crore in Q1 June 2016 over Q1 June 2015.

The Ballarpur Group is the largest manufacturer of writing and printing paper in India.

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