Shankara Building ends at 20-month low; tanks 43% in a month on weak Q2 nos

Shankara Building settled 10% lower at Rs 626, its lowest level since April 6, 2017, on the BSE, over concerns of margin pressure for the next couple of quarters.

Shares of Shankara Building Products fell 10% to settle at Rs 626 per share, their lowest level since April 6, 2017, on  BSE, over the concerns of margin pressure for the next couple of quarters.

In the past one month, the stock of the home improvement products maker tanked 43% after the company posted 47% year on year (y-o-y) decline in its net profit at Rs 91 million in September quarter (Q2FY19), due to higher operational costs. Total income grew 12.6% at Rs 5,716 million on y-o-y basis. Floods and heavy rains, especially in Kerala and South Karnataka, have