Timken India drops after weak Q3 result

Timken India lost 5.5% to Rs 820.05 at 09:49 IST on BSE after net profit declined 30.95% to Rs 9.17 crore on 20.61% increase in net sales to Rs 278.58 crore in Q3 December 2017 over Q3 December 2016.

The company announced Q3 result after market hours yesterday, 5 February 2018.

Meanwhile, the S&P BSE Sensex was down 1,006.43 points, or 2.9% to 33,750.73. The S&P BSE Mid-Cap index was down 624.32 points, or 3.77% to 15,935.23 .

On the BSE, 2,615 shares were traded on the counter so far as against the average daily volumes of 4,870 shares in the past one quarter. The stock had hit a high of Rs 825 and a low of Rs 800 so far during the day. The stock had hit a record high of Rs 1,008 on 12 January 2018 and a 52-week low of Rs 601.10 on 27 March 2017.

The mid-cap company has equity capital of Rs 68 crore. Face value per share is Rs 10.

Timken India is engaged in the business of engineering and manufacturing bearings and mechanical power transmission components including gear drives, couplings, belts and chain.

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