Balmer Lawrie drops after weak Q1 results

Balmer Lawrie & Company fell 4.33% to Rs 232.15 at 10:03 IST on BSE after net profit fell 19.5% to Rs 29.80 crore on 0.8% increase in net sales to Rs 465.35 crore in Q1 June 2017 over Q1 June 2016.

The result was announced after market hours yesterday, 9 August 2017.

Meanwhile, the S&P BSE Sensex was down 151.51 points, or 0.48% at 31,646.33. The S&P BSE Small-Cap index was down 184.30 points, or 1.18% at 15,450.20.

On the BSE, 8,395 shares were traded on the counter so far as against the average daily volumes of 25,806 shares in the past one quarter. The stock had hit a high of Rs 237 and a low of Rs 227.20 so far during the day. The stock had hit a record high of Rs 286.73 on 13 December 2016 and a 52-week low of Rs 158.58 on 11 August 2016.

The stock had outperformed the market over the past one month till 9 Aug 2017, advancing 3.99% compared with the Sensex's 1.39% rise. The scrip had, however, underperformed the market over the past one quarter advancing 4.91% as against the Sensex's 6.23% rise. The scrip had, however, outperformed the market over the past one year advancing 46.14% as against the Sensex's 13.22% rise.

The small-cap company has equity capital of Rs 114 crore. Face value per share is Rs 10.

Balmer Lawrie & Company is engaged in providing greases and lubricating oils, industrial packaging (steel drums), logistics infrastructure and services, and tours and travel.

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