Vascon Engineers gains ground on turnaround Q2 results

Vascon Engineers rose 2.41% to Rs 31.90 at 14:45 IST on BSE after the company reported net profit of Rs 0.87 crore in Q2 September 2016 compared with net loss of Rs 6.26 crore in Q2 September 2015.

The result was announced during market hours today, 13 December 2016.

More than usual volumes were witnessed on the counter. On the BSE, 3.91 lakh shares were traded in the counter so far, compared with an average volume of 2.52 lakh shares in the past one quarter. The stock had hit a high of Rs 33 and a low of Rs 30.90 so far during the day. The stock had hit a 52-week high of Rs 41.85 on 26 October 2016. The stock had hit a 52-week low of Rs 20.80 on 29 February 2016.

The stock had underperformed the market over the past one month till 12 December 2016, falling 2.35% compared with the 1.13% decline in the Sensex. The scrip had also underperformed the market in past one quarter, falling 11.76% as against Sensex's 6.48% decline.

The small-cap company has an equity capital of Rs 161.34 crore. Face value per share is Rs 10.

Vascon Engineers' net total income from operations fell 30.43% to Rs 52.92 crore in Q2 September 2016 over Q2 September 2015.

Separately, Vascon Engineers announced that the board of directors of the company at a meeting held today, 13 December 2016, approved the sale of its holding in Viorica Hotels for a consideration of Rs 15.60 crore.

Vascon Engineers is a premier realty, engineering, procurement & construction (EPC) & clean room partitioning companies.

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