Punj Lloyd crashed to over 15% today, as it had reported a disappointing Q2 result on Saturday and today the investors got first chance to react.
Result Hightlights
- Net profit fell 63.3% at 51.5Cr. as against 144.1 Cr. on YoY basis
- Operating Profit decreased by 20% YoY due to higher raw material prices.
- Sales fell 1.7% at 2,876.4Cr. as against 2,926.1 on YoY basis
- Sales of its infrasture segment fell by nearly 37% YoY, while its pipeline division grew over 100%
Their overseas subsidiary, Simon Carves UK remains a menace. Simon Carves incurred a loss of Rs. 104Cr. as a result of it’s Bio-Ehanol project in UK’s cost overruns due to delays in completion of project and poor productivity of subcontractors.
Positive side is that the company has order backlog of over Rs. 268 Billion.
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