OBC, Triveni Turbine slip 5-8% on poor Q2 numbers

Shares of Oriental Bank of Commerce (OBC) and Triveni Turbine declined 7.8 percent and 5 percent respectively intraday Wednesday on poor Q2 numbers.

Triveni Turbine has recorded 17 percent fall in its Q2 consolidated net profit at Rs 28.4 crore versus Rs 34.3 crore in the same quarter last fiscal.

Its revenue gained 8.8 percent at Rs 219.7 crore against Rs 201.8 crore.

The operating profit (EBITDA) fell 10.5 percent at Rs 46.9 crore and EBITDA margin was at 21.3 percent.

Oriental Bank of Commerce has reported net loss of Rs 1,750 crore versus profit of Rs 153.3 crore.

Its provisions has increased to Rs 3,281 crore from Rs 1,469 crore.

The company's gross NPA rose to 16.3 percent and net NPA was at 9.44 percent.

It net interest income was down 4.9 percent at Rs 1,251.7 crore versus Rs 1,315.6 crore.

At 15:19 hrs Triveni Turbine was quoting at Rs 133.85, down 4.39 percent and Oriental Bank of Commerce was quoting at Rs 128, down 5.60 percent on the BSE.