Nitin Fire Protection hits 52-week low after dismal Q1 numbers

Nitin Fire Protection Industries tumbled 7.39% to Rs 25.70 at 10:56 IST on BSE after the company reported net loss of Rs 5.25 crore in Q1 June 2016 compared with net profit of Rs 3.39 crore in Q1 June 2015.

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

Meanwhile, the S&P BSE Sensex was down 52.36 points or 0.19% at 28,130.21.

On BSE, so far 1.61 lakh shares were traded in the counter as against average daily volume of 1.92 lakh shares in the past one quarter. The stock hit a low of Rs 25.30 so far during the day, which is a 52-week low for the counter. The stock hit a high of Rs 26.50 so far during the day. The stock had hit a 52-week high of Rs 55.30 on 19 August 2015. The stock had underperformed the market over the past one month till 8 August 2016, sliding 11.48% compared with 3.89% rise in the Sensex. The scrip had also underperformed the market in past one quarter, declining 21.05% as against Sensex's 11.71% rise.

The large-cap company has equity capital of Rs 58.45 crore. Face value per share is Rs 2.

The company's net sales declined 40.9% to Rs 79.32 crore in Q1 June 2016 over Q1 June 2015.

Nitin Fire Protection Industries provides fire detection and fire suppression systems, and manufactures fire extinguishers.

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