Praj Industries drops after reporting weak Q4 results

Praj Industries dropped 5.57% to Rs 86.50 at 15:00 IST on BSE after the company's consolidated net profit fell 7.12% to Rs 34 crore on 7.72% rise in income from operations to Rs 329.83 crore in Q4 March 2016 over Q4 March 2015.

The announcement was made after market hours on Friday, 20 May 2016.

Meanwhile, the S&P BSE Sensex was up 72.70 points or 0.29% at 25,368.39.

On BSE, so far 1.1 lakh shares were traded in the counter as against average daily volume of 1.24 lakh shares in the past one quarter. The stock hit a high of Rs 92.60 and a low of Rs 85.70 so far during the day. The stock had hit a 52-week high of Rs 117.30 on 23 July 2015. The stock had hit a 52-week low of Rs 58.25 on 28 May 2015. The stock had underperformed the market over the past one month till 20 May 2016, falling 3.68% compared with Sensex's 2.1% fall. The scrip had, however, outperformed the market in past one quarter, gaining 15.58% as against Sensex's 6.72% rise.

The mid-cap company has equity capital of Rs 35.60 crore. Face value per share is Rs 2.

Praj Industries said that the consolidated order backlog as on 31 March 2016 stood at Rs 960 crore which comprised of 40% international orders.

Praj Industries offers innovative solutions for beverage alcohol and bioethanol plant, brewery, water & wastewater treatment plant, critical process equipment and systems and bioproducts.

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