Pitti Laminations tumbles after reverse turnaround in Q2

Pitti Laminations slumped 16.74% to Rs 49.25 at 14:51 IST on BSE after the company reported net loss of Rs 2.77 crore in Q2 September 2015 as compared with net profit of Rs 0.98 crore in Q2 September 2014.

The result was announced after market hours on Friday, 13 November 2015.

Meanwhile, the S&P BSE Sensex was up 202.21 points or 0.79% at 25,812.74

On BSE, so far 70,189 shares were traded in the counter as against average daily volume of 13,729 shares in the past one quarter.

The stock hit a high of Rs 54.70 and low of Rs 47.95 so far during the day. The stock had hit a record high of Rs 88.75 on 5 August 2015. The stock had hit a 52-week low of Rs 26.13 on 25 November 2014.

The stock had underperformed the market over the past one month till 13 September 2015, falling 5.21% compared with 4.6% fall in the Sensex. The scrip had also underperformed the market in past one quarter, sliding 13.27% as against Sensex's 7.04% decline.

The small-cap company has equity capital of Rs 13.49 crore. Face value per share is Rs 5.

Pitti Laminations' total income rose 8.9% to Rs 78.50 crore in Q2 September 2015 over Q2 September 2014.

Pitti Laminations is engaged in the manufacturing electric-grade steel stampings and laminations, which form important components in motors, rotors and other electrical components.

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