Moneycontrol
Dec 07, 2012 03:54 PM IST | Source: Moneycontrol.com

Orbit Exports up 4% on revised credit rating by ICRA

Shares of Orbit Exports rallied 4.27 percent to Rs 63.45 on the Bombay Stock Exchange, continuing the uptrend for the third consecutive session on Friday. The stock gained 12.7 percent in three days.

 
 
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Shares of Orbit Exports rallied 4.27 percent to Rs 63.45 on the Bombay Stock Exchange, continuing the uptrend for the third consecutive session on Friday. The stock gained 12.7 percent in three days.


The rating agency ICRA Credit Rating (ICRA) has upgraded the rating of fund based and fund based limits instruments to A2+ while reaffirmed BBB (stable) rating on term loan (worth Rs 13.36 crore), cash credit (Rs 15 crore) and proposed bank facilities (Rs 5.64 crore).
 
Market capitalisation of the company currently stands at Rs 80.58 crore.
 
Orbid Exports reported net profit of Rs 3.68 crore on total income of Rs 31.47 crore in the quarter ended September 2012. In the year 2011-12, the net profit stood at Rs 9.02 crore on sales turnover of Rs 102.11 crore.

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