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Power Mech Projects falls despite reporting 14% rise in Q4 consolidated net profit

Power Mech Projects falls despite reporting 14% rise in Q4 consolidated net profit

Power Mech Projects is currently trading at Rs. 687.50, down by 36.15 points or 5.00% from its previous closing of Rs. 723.65 on the BSE.

The scrip opened at Rs. 725.00 and has touched a high and low of Rs. 725.00 and Rs. 684.30 respectively. So far 10650 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 744.90 on 17-Jun-2021 and a 52 week low of Rs. 354.10 on 24-Sep-2020.

Last one week high and low of the scrip stood at Rs. 744.90 and Rs. 682.45 respectively. The current market cap of the company is Rs. 1017.54 crore.

The promoters holding in the company stood at 63.22%, while Institutions and Non-Institutions held 12.17% and 24.61% respectively.

Power Mech Projects has reported results for fourth quarter and year ended March 31, 2021.

The company has reported a rise of 75.71% in its net profit at Rs 39.06 crore for the quarter under review as compared to Rs 22.23 crore for the same quarter in the previous year. Total income of the company increased by 33.96% at Rs 740.36 crore for Q4FY21 as compared Rs 552.69 crore for the corresponding quarter previous year.

On the consolidated basis, the company has reported a rise of 14.39% in its net profit at Rs 36.08 crore for the quarter under review as compared to Rs 31.54 crore for the same quarter in the previous year. Total income of the company increased by 27.07% at Rs 759.93 crore for Q4FY21 as compared Rs 598.04 crore for the corresponding quarter previous year.

For the year ended March 31, 2021, the company has reported net loss at Rs 34.60 crore as compared to net profit at Rs 110.66 crore for the previous year. Total income of the company decreased by 13.59% at Rs 1774.55 crore for year under review as compared to Rs 2053.68 crore for year ended March 31, 2020.

For the year ended March 31, 2021, on the consolidated basis, the company has reported net loss at Rs 48.56 crore as compared to net profit at Rs 130.70 crore for the previous year. Total income of the company decreased by 12.59% at Rs 1900.42 crore for year under review as compared to Rs 2174.02 crore for year ended March 31, 2020.

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