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Shares of Sundaram Brake Linings Ltd fell by a little more than 6 per cent on the NSE today following poor Q1 results.
The company has posted a net loss of Rs 3.07 crore in Q1 of this year compared with a net profit of Rs 33.86 lakh in the same period last year.
Income from operations fell to Rs 55.81 crore in the quarter ending June 30 this year compared with Rs 62.59 crore in the same period last year. EPS was in the negative (Rs -7.82).
On the NSE, the stock fell to Rs 169, a loss of Rs 12. In fact, the scrip declined to a low of Rs 162.05 before making a marginal recovery.
According to the TVS Group company, apart from its strong presence in the original equipment market in India, its aftermarket sales are done through 140 TVS-owned wholesaler outlets. It also exports brake blocks to more than 60 countries.
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