Max India tumbles after dismal Q2 results

Max India fell 5.06% to Rs 414.35 at 10:40 IST on BSE after the company reported net loss of Rs 11.30 core in Q2 September 2014, as compared to net profit of Rs 1.99 crore in Q2 September 2013.

The result was announced after market hours on Wednesday, 12 November 2014.

Meanwhile, the BSE Sensex was down 17.28 points, or 0.06%, to 27,991.62.

On BSE, so far 23,000 shares were traded in the counter, compared with an average volume of 77,813 shares in the past one quarter.

The stock hit a high of Rs 441 and a low of Rs 412.10 so far during the day. The stock hit a record high of Rs 442.70 on 12 November 2014. The stock hit a 52-week low of Rs 177.60 on 20 February 2014.

The stock had outperformed the market over the past one month till 12 November 2014, rising 36.43% compared with 6.51% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 43.85% as against Sensex's 8.22% rise.

The large-cap company has an equity capital of Rs 53.30 crore. Face value per share is Rs 2.

Max India's total income dropped 93.04% to Rs 14.90 crore in Q2 September 2014 over Q2 September 2013.

On account of slump sale of Max Speciality Films division on 1 April 2014, the figures for previous periods are not comparable, Max India said.

The Max India Group is a multi-business corporate, driven by the spirit of enterprise and focused on people and service oriented businesses. Max India recently entered the senior living business with Antara Senior Living, a fully owned subsidiary of Max India. From its past, Max India continues its interest in the manufacture of speciality products for the packaging industry through its subsidiary, Max Speciality Films.

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