Orbit Corporation surges despite reporting net loss of Rs 8.54 crore in Q4

25 May 2012

Orbit Corporation is currently trading at Rs. 35.20, up by 0.95 points or 2.77% from its previous closing of Rs. 34.25 on the BSE.

The scrip opened at Rs. 34.40 and has touched a high and low of Rs. 36.00 and Rs. 34.20 respectively. So far 76451 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 68.90 on 22-Feb-2012 and a 52 week low of Rs. 25.00 on 20-Dec-2011.

Last one week high and low of the scrip stood at Rs. 37.60 and Rs. 33.70 respectively. The current market cap of the company is Rs. 399.44 crore.

The promoters holding in the company stood at 47.51% while Institutions and Non-Institutions held 2.01% and 50.48% respectively. 

Orbit Corporation has reported a net loss of Rs 8.54 crore for the fourth quarter ended March 31, 2012 as compared to a net profit of Rs 17.84 crore in the same period of previous fiscal.

However, the income from operation of the company rose to Rs 57.74 crore for the fourth quarter ended March 31, 2012, against Rs 51.69 crore in the same period of previous fiscal, up by 11.70%.

For the year ended March 31, 2012, the company posted a fall of 97.46% in its net profit of Rs 1.92 crore against Rs 75.49 crore in 2010-11. However, the income from operation of the company decreased 13.55% to Rs 308.48 crore for the year ended March 31, 2012, compared to Rs 356.81 crore in 2010-11.

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