AUSTIN ENGINEERING
By
Ruma Dubey
about 7 years ago
Austin Engineering is a leading designer and manufacturer of customised dump truck bodies, buckets and ancillary products used in the mining industry. The stock price closed in the green yesterday, that too almost 7% up despite having continued with its loss making tradition.
For Q3FY17, the company’s total income rose 38% (YoY) at Rs.18.5 crore but with costs coming at over Rs.19 crore, it ended the quarter in the red, with a loss at Rs.97 lakh. Maybe the market looked at the loss coming down from Rs.1.5 crore loss in Q3FY16.
To be noted – promoters holding is small at 33.76% and market cap is less than Rs.20 crore.