KCP tanks after dismal Q1 numbers

KCP lost 7.89% to Rs 91.60 at 12:48 IST on BSE after net profit fell 90.5% to Rs 3.24 crore on 12% decline in net sales to Rs 178.77 crore in Q1 June 2016 over Q1 June 2015.

The result was announced after market hours yesterday, 8 August 2016.

Meanwhile, the S&P BSE Sensex was down 164.16 points or 0.58% at 28,018.41.

On BSE, so far 1.88 lakh shares were traded in the counter as against average daily volume of 77,370 shares in the past one quarter. The stock hit a high of Rs 94.35 and a low of Rs 89.10 so far during the day. The stock had hit a 52-week low of Rs 58.50 on 29 February 2016. The stock had hit a record high of Rs 107.50 on 18 July 2016. The stock had outperformed the market over the past one month till 8 August 2016, advancing 7.22% compared with 3.89% rise in the Sensex. The scrip had also outperformed the market in past one quarter, surging 20.84% as against Sensex's 11.71% rise.

The small-cap company has equity capital of Rs 12.89 crore. Face value per share is Rs 1.

KCP is engaged in two main business segments viz. cement and heavy engineering. It also has captive power plants.

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