Finolex Industries tumbles after weak Q4 results

Finolex Industries lost 7.05% to Rs 215 at 10:41 IST on BSE, after net profit fell 29.17% to Rs 56.19 crore on 33.5% increase in net sales to Rs 833.32 crore in Q4 March 2014 over Q4 March 2013.

Finolex Industries announced its results after market hours on Monday, 12 May 2014.

Meanwhile, the BSE Sensex was up 322.60 points, or 1.37%, to 23,873.60

On BSE, so far 93,199 shares were traded in the counter as against an average daily volume of 57,649 shares in the past one quarter.

The stock hit a high of Rs 226 and a low of Rs 209.40 so far during the day. The stock had hit a record high of Rs 230.10 on 5 May 2014. The stock had hit a 52-week low of Rs 99 on 4 September 2013.

The stock had outperformed the market over the past one month till 9 May 2014, rising 8.91% compared with 1.29% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 45.17% as against Sensex's 12.85% rise.

The small-cap company has an equity capital of Rs 124.10 crore. Face value per share is Rs 10.

Finolex Industries' net profit rose 24.98% to Rs 170.14 crore on 14.28% increase in net sales to Rs 2427.60 crore in the year ended 31 March 2014 over the year ended 31 March 2013.

The board of Finolex Industries recommended a dividend of Rs 7 per share for the year ended 31 March 2014.

Finolex Industries is the largest PVC-U pipe manufacturer in India.

Powered by Capital Market - Live News