Jyothy Lab falls 9% after weak Q2 results

Shares of consumer goods firm Jyothy Laboratories plummeted by 9% on the bourses today after the company posted an 18.80% decline in net profit for the quarter ended September 30, 2011.

The company's scrip lost 9% to Rs 137.55 on the NSE, while on the BSE, the stock lost 8.18% to Rs 138.50.

Jyothy Laboratories had posted an 18.80% decline in net profit to Rs 12.48 crore for the quarter ended September 30, 2011.

The company's net profit for the three months ended September 30, 2010, stood at Rs 15.37 crore.

It had declared the quarterly results after market hours on Wednesday.

The stock saw an early high of Rs 150 and a low of Rs 138.50 on the BSE, while on the NSE, shares of the company moved in the range of Rs 137.55 to Rs 149.90 apiece.