Indian Hume Pipe drops after weak Q1 numbers

Indian Hume Pipe Company lost 2.86% to Rs 549 at 10:03 IST on BSE after net profit fell 23% to Rs 19.86 crore on 27.4% growth in net sales to Rs 544.51 crore in Q1 June 2017 over Q1 June 2016.

The result was announced after market hours yesterday, 12 September 2017.

Meanwhile, the S&P BSE Sensex was up 90.57 points or 0.28% at 32,249.23. The S&P BSE Small-Cap index advanced 75.87 points or 0.46% at 16,693.71.

On the BSE, 8,880 shares were traded on the counter so far as against the average daily volumes of 11,381 shares in the past one quarter. The stock had hit a high of Rs 550 and a low of Rs 537 so far during the day. The stock had hit a record high of Rs 591 on 1 September 2017 and a 52-week low of Rs 308.53 on 29 September 2016.

The stock had outperformed the market over the past one month till 12 September 2017, advancing 11.91% compared with the Sensex's 3.03% rise. The stock had also outperformed the market over the past one quarter, gaining 26.29% as against the Sensex's 3.42% rise. The scrip had also outperformed the market over the past one year, advancing 81.03% as against the Sensex's 13.42% rise.

The small-cap company has equity capital of Rs 9.69 crore. Face value per share is Rs 2.

Indian Hume Pipe Company is engaged in the business of providing integrated water supply schemes including manufacturing, laying and jointing of pipelines of various pipe materials which provide infrastructure facility for development of water supply and irrigation projects.

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