CapitalMarket.com - Elecon Engineering soars after bumper Q1 results
Hot Pursuit Friday, July 30, 2010 15:04 Hrs IST

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Elecon Engineering soars after bumper Q1 results

Elecon Engineering Company jumped 5.03% to Rs 90.90 at 15:08 IST after net profit rose 56.59% to Rs 13.31 crore on 16% increase in net sales to Rs 246.05 crore in Q1 June 2010 over Q1 June 2009.

The result was announced during trading hours today, 30 July 2010.

Meanwhile, the BSE Sensex was down 123.56 points, or 0.69%, to 17,868.44.

On BSE, 5.17 lakh shares were traded in the counter as against an average daily volume of 2.14 lakh shares in the past one quarter.

The stock hit a high of Rs 92.40 and a low of Rs 86.55 so far during the day. The stock had hit a 52-week high of Rs 110.85 on 21 October 2009 and a 52-week low of Rs 70.45 on 22 March 2010.

The stock had underperformed the market over the past one month till 29 July 2010, gaining 1.64% compared with the Sensex's 2.61% rise. It outperformed the market in past one quarter, spurting 8.59% as against 2.79% rise in the Sensex.

The small-cap engineering company has an equity capital of Rs 18.57 crore. Face value per share is Rs 2.

Total orders booked in Q1 June 2010 were Rs 599 crore. The company had booked orders worth Rs 748 crore in the financial year 2009-2010. The company said it has live enquiries of more than Rs 4000 crore as on 30 June 2010.

The company expects 20 to 25% growth in turnover in 2010-11.

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