MARKET EYE-BGR Energy falls to 1-year low on weak order backlog

Mon Feb 11, 2013 10:39am IST

Related Topics

Stocks

   

* BGR Energy Systems Ltd shares decline as much as 2.9
percent to a one-year low after margins miss estimates and as
high interest costs resulted in a 24.3 percent fall in December
quarter net profit. 
* The energy equipment maker on Friday reported a sequential
decline in backlog to 136 billion rupees versus 140 billion
rupees as of end-Sep 2012, implying lack of any major order wins
in the third quarter.  
* "We expect margins to remain under pressure as more
competitively bid EPC and BTG orders start contributing to
revenue over the next few quarters," Goldman Sachs said in a
note.
* At 0451 GMT shares are down 2.2 percent at 229.90 rupees. 

 (manoj.dharra@thomsonreuters.com/
manoj.dharra.thomsonreuters.com@reuters.net)
FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

REUTERS SHOWCASE

India-WTO Standoff

India-WTO Standoff

India threatens to derail WTO deal, prompts angry U.S. rebuke  Full Article 

Economic Pulse

Economic Pulse

New govt promises low and stable tax regime for economic revival.  Full Article 

IPO Probe Ends

IPO Probe Ends

Facebook says SEC's IPO probe ends, extending WhatsApp closing date  Full Article 

World Stocks

World Stocks

Goldman Sachs downgrades stocks to neutral for short term  Full Article 

Disappointing Results

Disappointing Results

Amazon's far-reaching ambitions, lack of profits, unnerve investors  Full Article 

Global Growth

Global Growth

IMF cuts outlook, warns of stagnation risk in rich nations  Full Article 

Market Eye

Market Eye

Nifty retreats from record highs on profit taking.  Full Article 

Waning Enthusiasm

Waning Enthusiasm

Markets' post-election enthusiasm lost on consumers.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage