 "Praj Industries share price slips 6% after posting Q3 results; PAT down 42%")
Praj Industries shares declined 6.2 per cent on Friday, logging an intraday low at Rs 595 per share on BSE. The selling of the stock came after the company reported a 42 per cent fall in net profit in Q3.
Around 11:51 AM, Praj Industries share price was down 5.38 per cent at Rs 600.5 per share on BSE. In comparison, the BSE Sensex was up 0.52 per cent at 77,156.31. The market capitalisation of the company stood at Rs
11,037.98 crore. The 52-week high of the stock was at Rs 874.3 per share and the 52-week low was at Rs 448 per share.
On Thursday, after market hours, Praj Industries reported a consolidated net profit of Rs 41.1 crore as compared to Rs 70.4 crore a year ago, down 42 per cent.
However, the revenue of the company increased by 3 per cent to Rs 853.027 crore for the third quarter compared to Rs 828.622 crore in the year-ago period.
The company also declared a third interim dividend for FY 2024-25 of 85 per cent i.e. Rs 4.25 per equity share of face value of Rs 5 each amounting to Rs 258.95 crore.
Incorporated in 1983 under the visionary leadership of technocrat Dr. Pramod Chaudhari. Praj Industries is a technologically advanced biotechnology and engineering company. It offers sustainable solutions for bioenergy, high-purity water, critical process equipment, breweries and industrial wastewater treatment. The company is focused on the environment, energy, and farm-to-fuel technology solutions, with more than 1000 customer references in over 100 countries across all six continents. ALSO READ: Why Ircon International gained 4% in trade today? check details here
The company has four manufacturing facilities located in Maharashtra, Gujarat, and Karnataka, which are near ports and supported by a multi-disciplinary engineering team. Global Offices located in Thailand and Philippines in South East Asia and in Houston, Texas, USA.
In the past one year, Praj Industries shares have lost 14 per cent against Sensex's rise of 7 per cent.
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