Plastiblends India declines after weak Q1 results

Plastiblends India lost 3.25% to Rs 259 at 10:17 IST on BSE after net profit fell 40.6% to Rs 5.28 crore on 1.64% decline in total revenue to Rs 145.54 crore in Q1 June 2017 over Q1 June 2016.

The result was announced after market hours yesterday, 7 September 2017.

Meanwhile, the S&P BSE Sensex was up 72.89 points or 0.23% at 31,735.63. The S&P BSE Small-Cap index rose 106.38 points or 0.65% at 16,445.01.

On the BSE, 4,990 shares were traded on the counter so far as against the average daily volumes of 4,581 shares in the past one quarter. The stock had hit a high of Rs 263.35 and a low of Rs 258 so far during the day. The stock had hit a record high of Rs 333.30 on 6 July 2017 and a 52-week low of Rs 199.50 on 27 March 2017.

The stock had outperformed the market over the past one month till 7 September 2017, advancing 1.5% compared with the Sensex's 1.89% fall. The stock had also outperformed the market over the past one quarter, gaining 5.12% as against the Sensex's 1.25% rise. The scrip had also outperformed the market over the past one year, advancing 25.66% as against the Sensex's 9.46% rise.

The small-cap company has equity capital of Rs 12.99 crore. Face value per share is Rs 5.

Plastiblends India is engaged in the manufacturing of masterbatches.

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