Astral Poly Technik dips on weak operational performance in Q2

The stock dipped 8% to Rs 352 on National Stock Exchange.

Astral Poly Technik has dipped 8% to Rs 352 after reporting nearly 400 bps decline in operating profit margin at 12% during the quarter ended September 2014 (Q2), due to higher raw material and employee cost. The plastic products maker had recorded EBTIDA margin at 15.6% in same quarter last fiscal.

Net profit however, grew 27.6% to Rs 20.69 crore mainly on account of lower foreign exchange loss. Net sales grew 18.8% to Rs 303 crore against Rs 255 crore in the corresponding quarter of last year.

Meanwhile, the board has recommended a payment of interim dividend @ Re 0.15 per equity share of Re 1 each.

The stock opened at Rs 377 and touched a low of Rs 351 on NSE. A combined 127,104 shares changed hands on the counter so far on NSE and BSE.