Hind Rectifiers slump by 17 per cent on a good market day

On Thursday, the shares of Hind Rectifiers fell by around 17.39 per cent, due to heavy selling, after the company reported its results for the quarter ended December 2019.

The company reported net sales of Rs 70.2 crore in Q3FY20, as compared to Rs 68.53 crore in Q3FY19. For the quarter ended December 2019, EBITDA was Rs 8.42 crore, up by 20.63 per cent from Rs 6.98 crore in the same period of the previous fiscal year. The company reported a net profit of Rs 3.69 crore in Q3FY20, up by 17.14 per cent from Rs 3.15 crore in Q3FY19. The earnings per share for the quarter stood at Rs 2.24.

Hind Rectifiers is engaged in developing, designing, manufacturing and marketing power semiconductor, power electronic equipment and railway transportation equipment. In addition, it manufactures high voltage, high current rectifiers, inverters and converters.

On Thursday, the stock closed at Rs 212.10, down by 17.39 per cent or Rs 44.65 per share. The 52-week high is recorded at Rs 269.95 and the 52-week low is Rs 102 on BSE.