Godrej Industries slipped 6 per cent despite positive result
The share price of Godrej Industries Ltd. slipped approx. 6 per cent on the bourses in the morning session on Thursday despite delivering a positive quarterly result.
The company had posted a consolidated net profit of Rs. 277.09 crore for the quarter ending March 2018 whereas if we look at the total income for the quarter was at Rs 2,657.39 crore against Rs 2,045.96 crore in the corresponding quarter of the last fiscal year.
The total expenses for the year ending March, 2018 was at Rs 2,502.79 against the total income of Rs. 9,968.83 for the same fiscal year. Meanwhile, the company also informed to BSE that its board has recommend a dividend of Rs 1.75 per share of Re. 1 each for the financial year ending 31st March, 2018.
On Thursday, the stock hit an intraday high of Rs 554.50 per share and an intraday low of Rs 525 per share on BSE. Currently, it is trading 31.58 per cent below its 52-week high and 6.03 per cent above its 52-week low.
At 10:39 hours, the shares of Godrej Industries Limited were quoting at Rs 531.35 per share, down by Rs 27.60 or 4.94 per cent against its previous close of Rs 558.95. Meanwhile, S&P BSE was trading at 34,476.89 up by Rs 131.98 or 0.38 per cent.