LG Balakrishnan & Bros witnessed a sharp fall in share price on Thursday after it announced a substantial drop in standalone net profit for the quarter ended June 2015. During the quarter, the profit of the company declined 41.12% to Rs 90.12 million from Rs 153.07 million in the same quarter last year.
Revenues for the quarter declined marginally 1.42% to Rs 2,468.51 million, compared with Rs 2,504.02 million for the prior year period.
Shares of the company are trading at Rs 455, down Rs 39.25, or 7.94% at the Bombay Stock Exchange (BSE) on Thursday at 3:04 p.m.
The scrip has touched an intra-day high of Rs 510 and low of Rs 450. The total volume of shares traded at the BSE is 42,369.