Lovable Lingerie hits 11-mth low on weak Q4 earnings

Lovable Lingerie has dipped 6% to Rs 308, its lowest level since May 2009, after reporting 43% quarter-on-quarter (q-o-q) fall in net sales at Rs 19 crore for the quarter ended March 2012.  The operating profit margins too, slipped more than 500 bps from 16.4% to 10.89% in the quarter under review.

Net profit however, surged 85% to Rs 6.52 crore on q-o-q basis, mainly due to higher income from other sources. The company, one of India's leading women's innerwear manufacturers, has earned other income of Rs 5.50 crore in Q4FY12 against Rs 0.28 crore in the previous quarter.

The stock has underperforming the market, by falling 22% in past eight trading sessions, compared to 5% drop in the benchmark index Sensex.

A combined 503,654 shares have changed hands on the counter till early noon deals on both the exchanges.