Shares of T D Power Systems slipped in early deals today after the firm reported a 18% fall in the net profit for the March 2024 quarter. T D Power Systems shares fell over 6% to Rs 322.55 against the previous close of Rs 345.90 on BSE. T D Power Systems stock opened lower at Rs 330.15. Market cap of the multibagger stock stood at Rs 5081 crore on BSE. The stock was the top loser on BSE in early deals on Friday.
Total 2402 shares of the firm changed hands amounting to a turnover of Rs 7.86 lakh in Friday’s session.
The stock has delivered multibagger 255% returns in the last two years. The power sector stock has gained 752.88% in three years and zoomed 1008.48 % in five years.
In terms of technicals, the relative strength index (RSI) of T D Power Systems stands at 63.4, signaling it's trading neither in the overbought nor in the oversold zone. T D Power Systems shares are trading higher than the 20 day, 50 day, 100 day, 200 day but lower than the 5 day and 10 day moving averages.
The stock hit its 52-week low of Rs 192.65 on May 30, 2023 and a 52-week high of Rs 360.95 on April 26, 2024.
The power sector firm consolidated net profit fell to Rs 29.02 crore in the March 2024 quarter compared to the year-ago period mainly led by higher expenses.
Net profit came at Rs 35.35 crore in the quarter ended on March 31, 2023. Total expenses climbed to Rs 227.65 crore from Rs 211.68 crore in the same period a year ago.
Consolidated net profit in 2023-24 rose to Rs 118.34 crore from Rs 96.81 crore a year ago.
The board also recommended a final dividend of Rs 0.60 per equity share with a face value of Rs 2 each for 2023-24.
TD Power Systems is an India-based manufacturer of air-condition (AC) generators and electric motors for various applications, which are specifically designed and tailor-made to suit the needs of the customers based on their requirements and specifications. The company’s products include generators, motors, replacement, refurbishment and spares.