Hitachi Home slumps after weak Q4 result

Hitachi Home & Life Solutions (India) lost 7.34% to Rs 1,297.50 at 14:51 IST on BSE after the company's net profit dropped 44.4% to Rs 13.36 crore on 16% fall in total income to Rs 416.72 crore in Q4 March 2016 over Q4 March 2015.

The result was announced after market hours yesterday, 30 May 2016.

Meanwhile, the BSE Sensex was down 18.32 points, or 0.07%, to 26,707.28

On BSE, so far 8,733 shares were traded in the counter, compared with an average volume of 5,656 shares in the past one quarter. The stock hit a high of Rs 1,370 and a low of Rs 1,275 so far during the day. The stock hit a record high of Rs 1,744.90 on 22 June 2016. The stock hit a 52-week low of Rs 932 on 29 February 2016. The stock had underperformed the market over the past one month till 30 May 2016, rising 2.99% compared with Sensex's 4.37% gains. The scrip also outperformed the market in past one quarter, gaining 41.98% as against Sensex's 16.19% gains.

The mid-cap company has an equity capital of Rs 27.19 crore. Face value per share is Rs 10.

Hitachi Home & Life Solutions (India) manufactures various kinds of products, including room air-conditioners, commercial air-conditioners, chillers and into trading of VRF systems, rooftops and refrigerators. Hitachi Home & Life Solutions (India) is a subsidiary of Hitachi Appliance Inc. The Japanese company has a 72.25% stake in the Indian unit (as on 31 March 2016).

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