Astral shares dip over 6% after firm fails to beat analysts estimates

Astral Share Price: Shares of building material and equipment company Astral declined sharply on BSE on Tuesday after it reported below-estimate numbers in its second-quarter results on Wednesday.

The stock ended the trading session on Thursday down 6.09 per cent, or Rs 119.45, at Rs 1,843.30 after starting the day at at Rs 1,964.55.

With today's fall, the stock's decline in the five trading sessions is 4.03 per cent against the benchmark Nifty's fall of 0.51 per cent in the same duration.

Astral Q2 results

Even though the company's margins improved, its early were below Zee Business research estimates.

The profit after tax jumped 75 per cent and the revenue from operations also rose by 16 per cent, but failed to beat analysts estimates. 

The company's EBIDTA was also 50 per cent up. 

Astral also announced an interim dividend of 150 per cent, or Rs 1.50 of the face value of Rs 1 per equity share.

The record date for the dividend is October 27, while the ex-date for the same is November 27.