Mumbai: Shares of Global Vectra Helicorp Limited are down sharply on Friday, weighed by disappointing first quarter results.
The company repoted a net profit of Rs 92.61 lakh for the quarter ended June 2017, as compared to net profit of Rs 2.15 crore in the year-ago quarter. The drop in profit ws due to higher tax paid by the company in the recent quarter. Revenue increased 5% to Rs 99.8 crore in the April - June 2017 quarter. EBITDA was up 12% at Rs 17.2 crore.
On BSE, the Global Vectra counter has clocked a volume of about 1.47 lakh shares so far in the session, more than 8 times the average daily volume of 18,000 shares.
On the National Stock Exchange, more than 4.12 lakh shares have changed hands so far at the Global Vectra Helicorp counter today.
The stock, which had dropped down to Rs 64.75 on 12 September 2016, saw some bright sessions thereafter and eventually touched a high of Rs 183 in early July this year.
The company, providing helicopter services for about two decades, has a large fleet of nearly 30 helicopters, operated by highly experienced and well trained crews.
The largest private helicopter company in the country's spectrum of operations encompasses support to India's offshore oil & gas industry, onshore operations for state governments, heli pilgrimage and so on.
