Patels Airtemp shares down by over 10 percent


Bangalore: Patels Airtemp stock was among top losers after its price went down by 10 percent. After opening the day at 110.50, the stock touched its 52 week low of 62, before closing the trade at 112.25, with a loss of 10.20 percent. Through the day, 330120 shares of Patels Airtemp were traded in the market with a PE ration of 5.58. Patels Airtemp is an India-based company. The company is engaged in the manufacture and sale of range of heat exchangers, such as shell and tube type, finned tube type and air cooled heat exchangers. The company operates in engineering fabrication with products, such as heat exchangers, pressure vessels, air-conditioning and refrigeration equipment and turnkey heating, ventilation, and air conditioning (HVAC) projects in India and marketing of equipments even outside India. The company's plant is located at Rakanpur, Gujrat, India. Net profit of Patels Airtemp India rose 3.79 percent to 2.19 crore in the quarter ended December 2010 as against 2.11 crore during the previous quarter ended December 2009. The compay's sales rose 4.53 percent to 15.45 crore in the quarter ended December 2010 as against 14.78 crore during the previous quarter ended December 2009.