Raymond share price falls over 3% on weak Q2 earnings

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Updated: October 29, 2015 4:32:29 PM

Raymond share price declined as much as 4.4 per cent in the early trade after the diversified group reported a massive fall of 86.14 per cent in its consolidated net profit at Rs 9.44 crore for the second quarter ended September 30, 2015.

Raymond sharesRaymond reported a massive fall of 86.14 per cent in its consolidated net profit at Rs 9.44 crore for the second quarter ended September 30, 2015.

Raymond share price declined as much as 4.4 per cent in the early trade on Thursday after the diversified group reported a massive fall of 86.14 per cent in its consolidated net profit at Rs 9.44 crore for the second quarter ended September 30, 2015 on account of under-performance of its engineering business. The company posted a consolidated bottomline figures of Rs 68.12 crore in the corresponding quarter a year ago.

At 9.32 am, shares of Raymond were trading 3 per cent down at Rs 430.95. The scrip opened at Rs 436 and had touched a high and low of Rs 436 and Rs 424.55, respectively, in trade so far. Sensex was down 0.28 per cent at 26,965.06.

Later, the share price of Raymond closed 3.66 per cent down at Rs 427.90.

Raymond’s total consolidated income from operation during the quarter under review increased by 2.18 per cent to Rs 1,492.59 crore as against Rs 1,460.74 crore during the same period of last financial year, Raymond said in a filing to the the BSE.

In the past one year, the share price of Raymond plunged 11.74 per cent to Rs 444.15 on October 28. Sensex gained 0.59 per cent during the same period.

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