Mahindra Composites said a substantial drop in standalone net profit for the quarter ended June 2014. During the quarter, the profit of the company declined 42.86% to Rs 2.80 million from Rs 4.90 million in the same quarter previous year.
Net sales for the quarter surged 44.81% to Rs 191.30 million, compared with Rs 132 million for the prior year period.
Earnings per share for the quarter stood at Rs 0.62, registering 41.51% decline over previous year period.
| Quarterly Results - Standalone (Rs in mn) |
| As at | Jun - 14 | Jun - 13 | %Change |
| Net Sales | 191.30 | 132.10 | 44.81 |
| Net Profit | 2.80 | 4.90 | (42.86) |
| Basic EPS | 0.62 | 1.06 | (41.51) |
Shares of the company gained Rs 3.8, or 3.02%, to settle at Rs 129.70. The total volume of shares traded was 6,340 at the BSE (Monday).
