 "Inox Wind hits 52-week low on disappointing Q3 results")
Inox Wind has dipped 8% to Rs 270, also its 52-week low on the BSE, after the company reported single digit year-on-year (yoy) growth in consolidated net profit at Rs 103 crore for the quarter ended December 31, 2015 (Q3FY16), due to slow revenue growth. The heavy electrical equipment maker had made a profit of Rs 101 crore in the same quarter last year.
Total income from operations during the quarter under review rose a mere 0.9% to Rs 941 crore in Q3FY16 compared to Rs 932 crore in corresponding quarter of last fiscal. Other income jumped five-fold to Rs 15 crore while finance cost increased 25% to Rs 20 crore on yearly basis.
Earnings before interest, tax, depreciation and amortisation (Ebitda) margin remained unchanged at 16.4% in Q3FY16.
At 03:16 PM, the stock was down 7.5% at Rs 273 on the BSE. A combined 1.07 million shares changed hands on the counter on the BSE and NSE so far.
Total income from operations during the quarter under review rose a mere 0.9% to Rs 941 crore in Q3FY16 compared to Rs 932 crore in corresponding quarter of last fiscal. Other income jumped five-fold to Rs 15 crore while finance cost increased 25% to Rs 20 crore on yearly basis.
Earnings before interest, tax, depreciation and amortisation (Ebitda) margin remained unchanged at 16.4% in Q3FY16.
At 03:16 PM, the stock was down 7.5% at Rs 273 on the BSE. A combined 1.07 million shares changed hands on the counter on the BSE and NSE so far.
