Shares of Gandhar Oil Refinery (India) Ltd. slumped on Monday to touch their lowest since listing, after the company reported a decline in its second-quarter net profit.
The company's short-term debt rose. There was an increase in inventory, creditor, debtor and net working capital days.
The current liabilities doubled sequentially to Rs 321.2 crore, revealed an investor presentation.
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Gandhar Oil shares fell as much as 9.09%, before paring losses to trade 5.47% lower at 10:14 a.m., compared to a 0.04% advance in the NSE Nifty 50.
Total traded volume so far in the day stood at 0.8 times its 30-day average.
Also Read: Gandhar Oil Refinery Q2 Profit Falls 11.3%
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