GHCL stock drops 7% after poor Q2 FY18 numbers

India Infoline News Service | Mumbai | October 24, 2017 14:55 IST

The company reported 41% YoY decline in its standalone net profit at Rs 53 crore in September quarter Q2 FY18, due to higher raw material and fuel cost.

Stock Market Down, Sensex Down
GHCL Ltd is currently trading at Rs 233.25, down by Rs 17.5 or 6.98% from its previous closing of Rs 250.75 on the BSE.

The company reported 41% YoY decline in its standalone net profit at Rs 53 crore in September quarter Q2 FY18, due to higher raw material and fuel cost.

The company had a profit of Rs 90 crore in the same quarter last fiscal. Total expenditure rose 10% to Rs 638 crore from Rs 580 crore.

Apart from this, the board has also given its approval for an investment of not exceeding Rs 125 crore for purchase of land for its Green Field project of Soda Ash in Gujarat.

The scrip opened at Rs 253 and has touched a high and low of Rs 257.8 and Rs 228 respectively. The stock is currently trading above its 200 DMA.

BSE 309.35 12.65 (4.26%)

***Note: This is a NSE Chart

 

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