Kirloskar Pneumatic drops after reporting weak Q2 results

Kirloskar Pneumatic Company shed 4.66% to Rs 826 at 14:35 IST on BSE after net profit fell 17.33% to Rs 6.01 crore on 8.74% decline in net total income from operations to Rs 117.59 crore in Q2 September 2016 over Q2 September 2015.

The result was announced during trading hours today, 20 October 2016.

Meanwhile, the S&P BSE Sensex was up 141.43 points or 0.51% at 28,125.80.

On BSE, so far 3,079 shares were traded in the counter as against average daily volume of 1,562 shares in the past one quarter. The stock hit a high of Rs 878 and a low of Rs 813 so far during the day. The stock had hit a record high of Rs 949.95 on 22 July 2016. The stock had hit a 52-week low of Rs 480 on 27 October 2015. The stock had underperformed the market over the past 30 days till 19 October 2016, falling 2.18% compared with 1.89% decline in the Sensex. The scrip, however, outperformed the market in past one quarter, gaining 8.3% as against Sensex's 0.99% rise.

The mid-cap company has equity capital of Rs 12.84 crore. Face value per share is Rs 2.

Kirloskar Pneumatic Company (KPCL) is one of the core group companies of Kirloskar group. The company started its operations with the manufacture of air Compressors and Pneumatic Tools. New product lines were then added, including air conditioning and refrigeration systems, marine HVACR, process gas systems and hydraulic power transmission machinery.

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