Ganesh Housing Corporation reports 25% dip in profits in Q2 FY17

Ganesh Housing Corporation Ltd has announced its unaudited consolidated results, wherein the Company has posted a net profit of Rs 13.98 crore for the quarter ended September 30, 2016 as compared to Rs 18.72 crore for the quarter ended September 30, 2015.

Dec 14, 2016 05:12 IST India Infoline News Service

Ganesh Housing Corporation Ltd has announced its unaudited consolidated results, wherein the Company has posted a net profit of Rs 13.98 crore for the quarter ended September 30, 2016 as compared to Rs 18.72 crore for the quarter ended September 30, 2015. Net Profit after tax reduced by 25.32%.

Total Income from operations has decreased from Rs 90 crore for the quarter ended September 30, 2015 to Rs 79 crore for the quarter ended September 30, 2016. The company's total income reduced by 11.7%.

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Ganesh Housing Corporation Ltd ended at Rs 70.45, up by Rs 1.35 or 1.95% from its previous closing of Rs 69.1 on the BSE.

The scrip opened at Rs 69.55 and touched a high and low of Rs 73 and Rs 69.55 respectively. A total of 192196 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 338.6 crore.

The BSE group 'B' stock of face value Rs 10 touched a 52 week high of Rs 95.93 on 30-Dec-2015 and a 52 week low of Rs 56.73 on 12-Feb-2016. Last one week high and low of the scrip stood at Rs 71.25 and Rs 66 respectively.

The promoters holding in the company stood at 56.25 % while Institutions and Non-Institutions held 11.16 % and 32.6 % respectively.

The stock traded below its 200 DMA.

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