Zylog Systems locked in lower circuit on weak Q2 results, hits 52-week low

NEW DELHI: Zylog Systems Ltd slipped 5 per cent in trade on Friday and was locked in lower circuit after the company reported a 56.3 per cent drop in its consolidated net profit at Rs Rs 214.85 crore for the second quarter ended September 2012.

The company reported a net profit of Rs 492.28 crore for the quarter ended September 30, 2011.

At 12:40 pm, Zylog Systems was locked in lower circuit at Rs 72.25, hitting its 52-week low.

The IT solution company registered a 26 per cent rise in its total expenditure for the quarter ended September 30 to Rs 5425.17 crore compared to Rs 4303.65 crore reported in the year-ago period.

Finance cost for the company almost doubled to Rs 169.13 crore compared to Rs 87.33 crore reported in the year-ago period.