25 Jan , 2022 By : monika singh
New Delhi: Shares of Craftsman Automation plunged as much as 13 per cent in early trade on Tuesday as the company posted a poor set in the quarter ended December 2021.
The precision components maker reported a 14 per cent decline in net profit to Rs 37.60 crore in the December 2021 quarter against Rs 43.48 crore in the same period of the previous year.
Following the update, shares of Craftsman Automation dropped more than 13 per cent to Rs 1,905 before trading at Rs 2,112.85 at 9.40 am. The scrip settled at Rs 2,198.15 on Monday.
BSE barometer and benchmark Sensex was trading 467.37 points or 0.81 per cent lower at 57,024.14 at the time of writing this report.
The revenue from sales rose 13 per cent to Rs 554.15 crore in the quarter ended December 2021 against Rs 489.07 crore during the previous quarter ended December 2020.
Shares of Craftsman Automation have been under pressure lately due to the hammering of the market debutants. The stock has dropped about 15 per cent in the last month.
Incorporated in 1986, Craftsman Automation is a leading engineering organization engaged in manufacturing precision components. The company designs, develops and manufactures a range of engineering products.
Listed in March 2021, Craftsman Automation issued its shares in the range of Rs 1,488-1,490 and scaled a peak of Rs 2,772.80 in the month of November.
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