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

Earnings Season

Earnings Season

Reliance Q4 sales rise, refining margin narrows.  Read 

Innovative Solution

Innovative Solution

Turning smog into jewels - a Dutch designer's solution to Beijing's pollution.  Video 

Insider Trading

Insider Trading

Rajaratnam's brother loses bid to dismiss insider trading charges.  Full Article 

Literary Giant Dies

Literary Giant Dies

Mourning and memories in Gabriel Garcia Marquez's languid hometown.  Full Article 

S&P on India

S&P on India

S&P: India's ratings to depend on next govt econ, fiscal policies.  Full Article 

Ambitious Aim

Ambitious Aim

In green car race, Toyota adds muscle with fuel-cell launch.  Full Article 

Bond Market

Bond Market

A star abroad, RBI boss riles bond traders at home  Full Article 

Reuters India Mobile

Reuters India Mobile

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