Praj Industries drops after weak Q3 outcome

Praj Industries lost 2.7% to Rs 57.55 at 09:27 IST on BSE after consolidated net profit fell 49.3% to Rs 12.30 crore on 18.3% decline in total income to Rs 224.46 crore in Q3 December 2014 over Q3 December 2013.

The result was announced after market hours yesterday, 20 January 2015.

Meanwhile, the BSE Sensex was up 86.27 points, or 0.3%, to 28,870.94

On BSE, so far 49,024 shares were traded in the counter, compared with an average volume of 2.84 lakh shares in the past one quarter.

The stock hit a high of Rs 57.90 and a low of Rs 56.35 so far during the day. The stock hit a 52-week high of Rs 79.15 on 5 June 2014. The stock hit a 52-week low of Rs 42 on 17 February 2014.

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

Praj Industries' consolidated order backlog as on 31 December 2014 stood at Rs 1050 crore. The outlook remains strong in our core and emerging businesses, backed by a healthy order backlog and recent order wins. Our endeavor is to leverage core business and further scale-up emerging businesses, establishing ourselves as a key player in multiple sectors, said Mr. Gajanan Nabar, CEO & MD, Praj Industries.

Praj Industries is the process engineering and solutions provider for bioethanol, alcohol & brewery, water & wastewater and process equipment globally.

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