Engineers India slips after weak Q1 results

Engineers India fell 3.01% to Rs 228.60 at 9:28 IST on BSE after net profit fell 29.35% to Rs 56.80 crore on 9.04% decline in total income to Rs 459.15 crore in Q1 June 2015 over Q1 June 2014.

The company announced the first quarter earnings after market hours yesterday, 10 August 2015.

Meanwhile, the BSE Sensex was down 17.72 points, or 0.06%, to 28,084.

On BSE, so far 52,000 shares were traded in the counter, compared with an average volume of 1.13 lakh shares in the past one quarter.

The stock hit a high of Rs 231.10 and a low of Rs 224.30 so far during the day. The stock hit a 52-week high of Rs 282.95 on 5 November 2014. The stock hit a 52-week low of Rs 178.10 on 7 May 2015.

The stock had outperformed the market over the past one month till 10 August 2015, rising 3.86% compared with 1.59% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 25.47% as against Sensex's 3.68% rise.

The mid-cap company has an equity capital of Rs 168.47 crore. Face value per share is Rs 5.

State-run Engineers India (EIL) provides engineering consultancy and EPC services, mainly to the oil and gas and petrochemical industries. The company has also diversified into sectors like infrastructure, water and waste management, solar and nuclear power and fertilizers to leverage its strong technical competencies and track record. The Government of India holds 69.37% stake in EIL (as per the shareholding patter as on 30 June 2015)

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