Kirloskar Electric slumps after reporting net loss in Q3

Kirloskar Electric Company lost 8.21% to Rs 17.90 at 11:51 IST on BSE after the company reported a net loss of Rs 19.54 crore in Q3 December 2013 as against net profit of Rs 1.15 crore in Q3 December 2012.

The Q3 result was announced after market hours on Monday, 10 February 2014.

Meanwhile, the S&P BSE Sensex was up 68.18 points or 0.34% at 20,402.45.

On BSE, so far 12,000 shares were traded in the counter as against average daily volume of 8,466 shares in the past one quarter.

The stock hit a high of Rs 19.50 and a low of Rs 17.55 so far during the day. The stock had hit a record low of Rs 13.05 on 25 September 2013. The stock had hit a 52-week high of Rs 25.80 on 20 May 2013.

The stock had underperformed the market over the past one month till 10 February 2014, declining 10.76% compared with the Sensex's 2.04% fall. The scrip had, however, outperformed the market in past one quarter, jumping 10.8% as against Sensex's 1.61% fall.

The small-cap company has equity capital is Rs 50.52 crore. Face value per share is Rs 10.

Kirloskar Electric Company's net sales declined 22.69% to Rs 154.48 crore in Q3 December 2013 over Q3 December 2012.

Kirloskar Electric produces more than 70 products under 8 different product groups, catering to core sectors of the economy like power generation, transmission and distribution, transportation, and renewable energy, sugar, steel, cement, and allied industries.

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