BGR Energy falls to one-year low on weak order backlog
Reuters Market Eye - BGR Energy Systems Ltd(BGRE.NS) 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 10.21 am shares are down 2.2 percent at 229.90 rupees.
(Reporting by Manoj Dharra)
- Tweet this
- Share this
- Digg this
- UPDATE 7-Putin critic Khodorkovsky in Germany after pardon
- BlackBerry steps back on handset business, shares jump |
- Domino's outlet attacked in India as U.S. diplomatic dispute simmers
- UPDATE 4-BlackBerry steps back on handset business, shares jump
- Blackberry CEO says Foxconn to share margin in deal: CNBC
Protesters ransacked a Dominos Pizza (DPZ.N) outlet in a Mumbai suburb on Friday, demanding a ban on U.S. goods as officials from the two countries tried to defuse a dispute over the arrest of Indian diplomat Devyani Khobragade in New York. Article | Slideshow