Sadbhav Engineering tanks 6% despite good Q4 show

New Delhi: Sadbhav Engineering shares shed 6 per cent after a poor performance in the financial year ended on March 31, 2021. However, the company reported a manifold jump in the quarter ended in the March 2021 quarter.

The net profit of the company declined 34 per cent to Rs 41.03 crore during the financial year 2020-21, as against a net profit of Rs 85.15 crore in the previous year.

Interestingly, the net profit of the company during January-March 2021 period jumped five times to Rs 47.21 crore as against a net profit of Rs 8.18 crore in the same quarter previous year.

Shares of the engineering and construction company shed 6 per cent to Rs 80.90 on Monday. However, the counter was trading at Rs 83.4 at the time of writing this report. BSE Sensex was trading 339.83 points or 0.65 per cent higher at 52,824.5 at the same time. It settled at Rs 86.5 on Friday.

The company reported a fall of 27.8 per cent in total income Rs Rs 1,623.62 crore in the FY2020-21, as compared to Rs 2,251.66 crore in the FY2019-20.

The construction firm has surged up to 20 per cent in the last one month. The counter is up 35 per cent so far in 2021.

However, the income during the March 2020 quarter rose merely 4 per cent to Rs 425.71 crore as against Rs 408.86 crore in the same quarter previous year.