Triveni Engineering gains on turnaround June 2008 quarter results

Triveni Engineering & Industries gained 1.84% to Rs 94 at 12:20 IST on BSE after the company reported net profit of Rs 24.60 crore in June 2008 quarter as compared to net loss of Rs 19.97 crore in June 2007 quarter.

The company announced the results after trading hours on Wednesday, 30 July 2008.

Meanwhile, the BSE Sensex was down 44.59 points, or 0.31%, to 14,242.62.

On BSE, 3.09 lakh shares were traded in the counter. The scrip had an average daily volume of 4.41 lakh shares in the past one quarter.

The stock hit a high of Rs 97.30 and a low of Rs 93.10 so far during the day. The stock had a 52-week high of Rs 195.70 on 17 December 2007 and a 52-week low of Rs 55.10 on 10 August 2007.

From a recent low of Rs 84.7 on 15 July 2008, the stock rose 8.97% to Rs 92.3 on 30 July 2008. The stock gained 1.10% to Rs 92.30 on 30 July 2008 ahead of teh results.

The small-cap company had outperformed the market over the past one month till 30 July 2008, gaining 38.07% compared to the Sensex's return of 10.23%. It had underperformed the market in the past one quarter, declining 28.17% compared to Sensex's decline of 17.35%.

The company has an equity capital of Rs 25.79 crore. Face value per share is Rs 10.

The current price of Rs 94 discounts its June 2008 quarter annualised EPS of Rs 3.82, by a PE multiple of 24.61.

Triveni Engineering & Industries' net sales rose 28.1% to Rs 440.06 crore in June 2008 quarter over June 2007 quarter.

Triveni Engineering & Industries has business operations in sugar, turbines and water treatment.