Asahi India Glass slides on dismal Q4 numbers

Asahi India Glass fell 4.05% to Rs. 88.95 at 10:04 IST on BSE, after consolidated net profit tumbled 72.9% to Rs. 2.57 crore on 27.1% rise in net sales to Rs. 429.77 crore in Q4 March 2011 over Q4 March 2010.

The company announced the results after market hours on Monday, 16 May 2011.

Meanwhile, the BSE Sensex was up 46.05 points, or 0.23%, to 18,387.50.

On BSE, 9,042 shares were traded in the counter as against average daily volume of 31,048 shares over the past one quarter.

The stock hit a high of Rs. 92 and a low of Rs. 88.55 so far during the day. The stock had hit a 52-week high of Rs. 123.70 on 10 November 2010 and a 52-week low of Rs. 62.30 on 26 May 2010.

The mid-cap stock had underperformed the market over the past one month till 16 May 2011, declining 8.85% compared with the Sensex's 5.37% fall. The stock had outperformed the market in past one quarter, gaining 8.17% as against Sensex's return of 0.24%.

The company has an equity capital of Rs. 15.99 crore. Face value per share is Rs. 1.

Asahi India Glass commissioned production of laminated windshields at its existing plant at Taloja (near Mumbai) in Q4 March 2011.

600450 Asahi India Glass slides on dismal Q4 numbers glassonweb.com

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