Brigade Enterprises slumps after weak Q3 earnings

Brigade Enterprises fell 7.25% to Rs 144.50 at 13:01 IST on BSE after consolidated net profit declined 16.35% to Rs 31.25 crore on 43.75% rise in net sales to Rs 494.17 crore in Q3 December 2015 over Q3 December 2014.

The result was announced after trading hours yesterday, 1 February 2016.

Meanwhile, the BSE Sensex was up 24.34 points, or 0.10%, to 24,849.17.

On BSE, so far 7,685 shares were traded in the counter, compared with an average volume of 16,294 shares in the past one quarter. The stock hit a high of Rs 152 and a low of Rs 143 so far during the day. The stock hit a 52-week high of Rs 179.60 on 2 February 2015. The stock hit a 52-week low of Rs 121 on 25 August 2015. The stock had outperformed the market over the past one month till 1 February 2016, rising 0.84% compared with 5.11% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 2.43% as against Sensex's 6.87% fall.

The small-cap company has an equity capital of Rs 113.08 crore. Face value per share is Rs 10.

Lower other income (non-operational) during the quarter impacted the bottom line. Other income fell 52.26% to Rs 3.59 crore in Q3 December 2015 over Q3 December 2014.

Brigade Enterprises (BEL) is Brigade Group's flagship company. Brigade Group was established in 1986, with property development as its main focus.

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