Diamond Power tumbles after dismal Q4 results

Diamond Power Infrastructure fell 4.10% to Rs 36.30 at 9:42 IST on BSE after the company reported consolidated net loss of Rs 305.55 crore in Q4 March 2017 compared with net loss of Rs 205.56 crore in Q4 March 2016.

The result was announced after market hours yesterday, 20 April 2017.

Meanwhile, the S&P BSE Sensex was up 59.42 points, or 0.20% to 29,481.81.

On the BSE, 69,000 shares were traded in the counter so far, compared with average daily volumes of 1.11 lakh shares in the past one quarter. The stock had hit a high of Rs 36.70 and a low of Rs 35.50 so far during the day.

The stock hit a 52-week high of Rs 63.15 on 20 October 2016. The stock hit a 52-week low of Rs 25.70 on 25 April 2016.

The stock had underperformed the market over the past one month till 20 April 2017, falling 7.57% compared with 0.87% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 3.20% as against Sensex's 8.83% rise.

The small-cap company has equity capital of Rs 269.71 crore. Face value per share is Rs 10.

On a consolidated basis, Diamond Power Infrastructure's net sales fell 72.85% to Rs 192.28 crore in Q4 March 2017 over Q4 March 2016.

On a consolidated basis, the company reported net loss of Rs 808.57 crore in the year ended March 2017 compared with net loss of Rs 272.81 crore in the year ended March 2016. Net sales fell 49.36% to Rs 1131.73 crore in the year ended March 2017 over the year ended March 2016.

Diamond Power Infrastructure is an integrated manufacturer of power transmission equipment and turnkey services provider (EPC).

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