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Nilkamal slips after weak Q1 results

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fell 2.05% to Rs 1,718.05 at 10:56 on after net profit fell 29.4% to Rs 22.37 crore on 5.8% growth in net sales to Rs 487.59 crore in Q1 June 2017 over Q1 June 2016.

The result was announced after market hours yesterday, 7 August 2017.

Meanwhile, the S&P Sensex was down 209.28 points, or 0.65% to 32,064.39.

On the BSE, 59,000 shares were traded in the counter so far, compared with average daily volumes of 6,134 shares in the past one quarter. The stock had hit a high of Rs 1,789 and a low of Rs 1,647.10 so far during the day. The stock hit a record high of Rs 2,274.85 on 11 May 2017. The stock hit a 52-week low of Rs 1,150.20 on 11 August 2016.

The stock had underperformed the market over the past one month till 7 August 2017, falling 9.04% compared with 2.91% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 20.14% as against Sensex's 7.82% rise. The scrip had outperformed the market in past one year, rising 45.32% as against Sensex's 14.52% rise.

The small-cap company has equity capital of Rs 14.92 crore. Face value per share is Rs 10.

During Q1 June 2017, achieved growth in its net sales, however the net profit was affected on account of additional spends towards the ongoing advertisement for brand reinforcement, rise in routine expenditure and other one-off, non-recurring operational expenses. Further, June 2017 also saw an impact on the sales volume of the company due to the goods and services tax (GST) being rolled-out with effect from July 2017.

is an industry pioneer in the manufacturing business of moulded furniture and material handling products with diversified product profile across various segments along with a diversified customer base including household customers, industrial customers and retail buyers. It is also having its presence in the retail business of lifestyle furniture, furnishings and accessories under its brand '@home' & Nilkamal Mattresses.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, August 08 2017. 10:59 IST