Shares of Timken India have outperformed the S&P BSE Sensex over the last 12 months.
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Timken India Ltd. shares dropped as much as 6.6 percent in early trade on Tuesday after the company announced September quarter results after market hours on Monday.
Net profit for the period also increased 23 percent to Rs 97.6 crore but was lower on a sequential basis by 17.3 percent.
On a year-on-year basis, the company's operating profit increased by 6 percent while the EBITDA margin contracted by over 350 basis points to 18.8 percent from 22.2 percent during the year-ago period.