ITI drops after poor Q1 results

ITI lost 3.44% to Rs 28.10 at 11:57 IST on BSE after net profit declined 72.4% to Rs 11.24 crore on 159.59% growth in total income from operations to Rs 325.90 crore in Q1 June 2016 over Q1 June 2015.

The result was announced after market hours yesterday, 11 August 2016.

Meanwhile, the S&P BSE Sensex was up 224.14 points or 0.8% at 28,083.74.

On BSE, so far 48,000 shares were traded in the counter as against average daily volume of 74,000 shares in the past two weeks. The stock hit a high of Rs 29 and a low of Rs 27.90 so far during the day. The stock had hit a 52-week high of Rs 34.90 on 6 January 2016. The stock had hit a 52-week low of Rs 21.75 on 25 August 2015. The stock had outperformed the market over the past one month till 11 August 2016, gaining 2.46% compared with 0.84% rise in the Sensex. The scrip had also outperformed the market in past one quarter, advancing 15.25% as against Sensex's 8.84% rise.

The small-cap company has equity capital of Rs 288 crore. Face value per share is Rs 10.

ITI offers a complete range of telecom products and total solutions covering the whole spectrum of switching, transmission, access and subscriber premises equipment.

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