Kavveri Telecom drops after reverse turnaround in Q3

Kavveri Telecom lost 4.52% to Rs 27.45 at 11:54 IST on BSE after the company reported a consolidated net loss of Rs 16.75 crore in Q3 December 2013 as against net profit of Rs 7.61 crore in Q3 December 2012.

The Q3 result was announced after market hours on Friday, 14 February 2014.

Meanwhile, the S&P BSE Sensex was up 39.13 points or 0.19% at 20,405.95.

On BSE, so far 1,397 shares were traded in the counter as against average daily volume of 13,500 shares in the past one quarter.

The stock hit a high of Rs 28.70 and a low of Rs 27.45 so far during the day. The stock had hit a 52-week high of Rs 96.90 on 12 March 2013. The stock had hit a 52-week low of Rs 22.55 on 26 August 2013.

The stock had outperformed the market over the past one month till 14 February 2014, advancing 2.31% compared with the Sensex's 3.17% fall. The scrip had, however, underperformed the market in past one quarter, declining 2.71% as against Sensex's 0.16% fall.

The small-cap company has equity capital of Rs 20.12 crore. Face value per share is Rs 10.

Kavveri Telecom's consolidated total income from operations declined 76.65% to Rs 28.09 crore in Q3 December 2013 over Q3 December 2012.

Kavveri Telecom is a leading telecom products manufacturer, providing world-class, hardware products and solutions for the telecom industry.

Powered by Capital Market - Live News