Bharat Bijlee tumbles as net loss widens in Q1

Bharat Bijlee slumped 7.05% to Rs 1,127 at 9:38 IST on BSE after the company reported net loss of Rs 3.87 crore in Q1 June 2017, compared with net loss of Rs 2.15 crore in Q1 June 2016.

The result was announced after market hours on Thursday, 24 Aug 2017.

Meanwhile, the S&P BSE Sensex was up 113.41 points, or 0.36% at 31,709.47. The S&P BSE Small-Cap index was up 94.40 points, or 0.6% at 15,741.

On the BSE, 9,616 shares were traded on the counter so far as against the average daily volumes of 12,465 shares in the past one quarter. The stock had hit a high of Rs 1,150 and a low of Rs 1,110 so far during the day. The stock had hit a 52-week high of Rs 1,498.70 on 22 June 2017 and a 52-week low of Rs 726.25 on 30 September 2016.

The stock had underperformed the market over the past one month till 24 August 2017, declining 5.84% compared with the Sensex's 2.02% fall. The scrip had, however, outperformed the market over the past one quarter gaining 18.69% as against the Sensex's 4.27% rise. The scrip had also outperformed the market over the past one year advancing 58.61% as against the Sensex's 12.6% rise.

The small-cap company has equity capital of Rs 5.65 crore. Face value per share is Rs 10.

Bharat Bijlee's net sales rose 11.1% to Rs 148.35 crore in Q1 June 2017 over Q1 June 2016.

Bharat Bijlee is one of the leading electrical engineering companies in India. The company's main business segments are transformers, projects, electric motors, elevator systems and drives & automation.

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