Hindustan Composites slumps 7% on weak Q2 numbers

NEW DELHI: Shares of Hindustan Composites slumped 7 per cent in Tuesday’s trade after the company reported a 32 per cent slump in September quarter net profit on drop in sales.

The stock tanked 7.03 per cent to hit a low of Rs 1,599.10 on BSE. The stock is off 25 per cent from its 52-week high of Rs 2,119 hit in September this year. The low-liquid stock had seen a volume of 483 shares so far on BSE against a two-week average of 386 shares.

The company on Monday said its net profit declined 32 per cent to Rs 10.88 crore in the September quarter on 9.9 per cent decline in net sales to Rs 44.31 crore.

The earnings per share (EPS) for the quarter dropped to Rs 22.10 from Rs 25.09 in June quarter and Rs 32.48 in the year-ago quarter.