Praj Industries drops after Q1 outcome

Praj Industries fell 4.2% to Rs 105.05 at 12:35 IST on BSE after consolidated net profit rose 108.87% to Rs 5.18 crore on 13% decline in income from operations to Rs 192.50 crore in Q1 June 2015 over Q1 June 2014.

The Q1 result was announced after market hours yesterday, 6 August 2015.

Meanwhile, the S&P BSE Sensex was up 5.89 points or 0.02% at 28,304.02.

On BSE, so far 5.63 lakh shares were traded in the counter as against average daily volume of 5.55 lakh shares in the past one quarter.

The stock hit a high of Rs 107.80 and a low of Rs 101 so far during the day. The stock had hit a 52-week low of Rs 54.55 on 23 January 2015. The stock had hit a 52-week high of Rs 117.30 on 23 July 2015.

The stock had outperformed the market over the past one month till 6 August 2015, surging 10.59% compared with Sensex's 0.32% rise. The scrip had also outperformed the market in past one quarter, jumping 81.54% as against Sensex's 5.92% rise.

The small-cap company has equity capital of Rs 35.49 crore. Face value per share is Rs 2.

Praj Industries' consolidated order backlog as on 30 June 2015 stood at Rs 980 crore. The company commissioned an international brewery in South East Asia during the quarter.

Praj, a global process solutions company driven by innovation and integration capabilities, offers solutions to add significant value to bio-ethanol facilities, brewery plants, water & wastewater treatment systems, critical process equipment & systems, HiPurity solutions and bio-products.

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