Astra Microwave reported a scrawny first quarter numbers where the revenue fell 42.9% to Rs 56.8% year-on-year and net loss stood at Rs 2.4 crore in comparison to a profit of Rs 4.9 crore in the same quarter last fiscal. The Weak results have led to the drop in Astra Microwave share price by 8%. B Malla Reddy, MD of Astra Micro considers this as a general happening in this line of business, facing a few hurdles when a new project is moved for production which led to the disappointing set of numbers. He also said in an interview that the company will not change its revenue and profit guidance for FY17 and will stick with the order book guidance of Rs 530 crore. Astra Microwave is the manufacturers of microwave systems defense, space, and telecom.
Although Astra Microwave share price fell, the stock has experienced the surge in the volume by over 1%. This proves the faith of investors on the stock. The stock had also seen the spurt in the volume of over two times on 28th July 2016. Astra Microwave was currently trading at Rs. 115.85 against its opening of Rs. 120. Dynamic Levels have identified the stock among top 500 performers for the quarter. The company has not reported any loss in past two-quarter and has strong fundamentals. For details on the support and resistance levels of Astra Microwave, refer to the Astra Microwave forecast page of Dynamic Levels Website. For other information on the stock, visit Astra Microwave share price history page of the website.
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