Punj Lloyd extends slide as Q2 net loss widens

Punj Lloyd lost 2.43% to Rs 28.10 at 9:51 IST on BSE, with the stock extending recent slide as the company reported net loss in Q2 September 2013.

Meanwhile, the S&P BSE Sensex was down 179.93 points or 0.85% at 21,059.43.

On BSE, 2.68 lakh shares were traded in the counter as against average daily volume of 8.27 lakh shares in the past one quarter.

The stock was volatile. The stock lost as much as 3.93% at the day's low of Rs 27.65 so far during the day. The stock rose as much as 0.69% at the day's high of Rs 29 so far during the day. The stock had hit a record low of Rs 20.25 on 4 September 2013. The stock had hit a 52-week high of Rs 64.10 on 9 January 2013.

The stock had outperformed the market over the past one month till 3 November 2013, surging 19.5% compared with the Sensex's 6.72% rise. The scrip had also outperformed the market in past one quarter, jumping 26.87% as against Sensex's 10.83% rise.

The small-cap company has equity capital of Rs 66.42 crore. Face value per share is Rs 2.

Shares of Punj Lloyd have fallen 6.02% in two trading sessions from a recent high of Rs 29.90 on Friday, 1 November 2013, after the company after market hours on Friday reported poor Q2 results. The stock had declined 3.67% to settle at Rs 28.80 on Sunday, 3 November 2013. There was a special Muhurat trading session on Sunday, 3 November 2013 on account of Diwali-Balipratipada.

Punj Lloyd reported a consolidated net loss of Rs 67.08 crore in Q2 September 2013, higher than net loss of Rs 17.92 crore in Q2 September 2012. Total income from operations rose 13.12% to Rs 3131.62 crore in Q2 September 2013 over Q2 September 2012. EBITDA (earnings before interest, taxation, depreciation and amortization) rose 1.94% to Rs 314 crore.

The Punj Lloyd Group is a diversified international conglomerate offering engineering, procurement and construction (EPC) services in energy and infrastructure along with engineering and manufacturing capabilities in the defence sector.

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