Sadbhav Engineering's net profit fell by 91 percent year-on-year to Rs 3.7 crore in the third quarter of financial year 2012-13 due to fall in revenues and high interest cost.
Total income halved to Rs 353.4 crore from Rs 724.9 crore during the same period.
According to Viral Shah, senior research analyst (infrastructure) at Angel Broking, this dismal performance has been owing to slower execution pace in remaining under construction projects.
Shares fell as much as 11 percent intraday on Monday to touch a 52-week low of Rs 107.50. However, shares recovered due to buying on declines.
At 13:17 hours IST, the stock was down just 0.91 percent to Rs 119.90 on Bombay Stock Exchange.
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