Lakshmi Machine Works witnessed a fall in share price on Tuesday after the company disclosed a steep drop in standalone net profit for the quarter ended December 2016. During the quarter, the profit of the company declined 21.63% to Rs 512.58 million from Rs 654.07 million in the same quarter previous year.

Revenues for the quarter declined 17.59% to Rs 5,820.32 million, compared with Rs 7,062.95 million for the prior year period.

Shares of Lakshmi Machine Works are trading at Rs 3,830.00, down Rs 50.65, or 1.31% at the Bombay Stock Exchange (BSE) on Tuesday at 10:12 a.m.

The scrip has touched an intra-day high of Rs 3,874.40 and low of Rs 3,824.00. The total volume of shares traded at the BSE is 146.

Total volume of shares traded on the bourses today was lower by 47.81% to 1,985 compared with 22-day average volume of 3,804.