Nilkamal has plunged 11% to Rs 336 after reporting a sharp 45% year-on-year (yoy) decline in net profit at Rs 6.84 crore for the second quarter ended September 2014 (Q2), due to higher expenditure. The plastic products maker had profit of Rs 12.55 crore in a year ago quarter.
Net sales of the company grew 8.8% yoy to Rs 458 crore, while total expenditure increased 11.9% to Rs 442 crore over the previous year quarter.
EBITDA or operating profit margins declined 300 bps to 6.97% from 10.08% during the recently concluded quarter.
The increase in raw material prices along with the increase in the operating expenses of the company resulted in lower profitability, Nilkamal said in a statement.
The stock opened at Rs 332 and touched a low of Rs 332 on NSE. A combined 172,474 shares changed hands on the counter till 1200 hours on NSE and BSE.
Net sales of the company grew 8.8% yoy to Rs 458 crore, while total expenditure increased 11.9% to Rs 442 crore over the previous year quarter.
EBITDA or operating profit margins declined 300 bps to 6.97% from 10.08% during the recently concluded quarter.
The increase in raw material prices along with the increase in the operating expenses of the company resulted in lower profitability, Nilkamal said in a statement.
The stock opened at Rs 332 and touched a low of Rs 332 on NSE. A combined 172,474 shares changed hands on the counter till 1200 hours on NSE and BSE.
