Hind Rectifiers, a leading manufacturer, exporter of active devices, electronic components spares, dropped on Thursday after it posted a drop in standalone net profit for the quarter ended March 2014. 

During the quarter, the profit of the company declined 41.58% to Rs 23.74 million from Rs 40.63 million in the same quarter previous year.

Net sales for the quarter declined 17.37% to Rs 362.60 million, compared with Rs 438.80 million for the prior year period.

Shares of the company are trading at Rs 58.80, down Rs 3.5, or 5.62% at the Bombay Stock Exchange (BSE) on Thursday at 11:34 a.m.

The scrip has touched an intra-day high of Rs 61.95 and low of Rs 58.60. The total volume of shares traded at the BSE is 11,374.

In the earlier session, the shares gained 2.3%, or Rs 1.4, at Rs 62.30. Currently, the stock is trading down 10.57% from its 52-week high of Rs 65.75 and above 106.32% over the 52-week low of Rs 28.50.