Finolex Industries has plunged over 9% to Rs 210 after reporting 29% year on year (yoy) decline in net profit at Rs 56 crore for the quarter fourth quarter ended March 31, 2014 (Q4), due to higher raw material and finance cost. The plastic products maker had profit of Rs 79 crore in the same quarter last year.
EBITDA (earnings before interest, taxes, depreciation, and amortization) margin contracted over 500 basis points on a yoy basis to 12.4% from 17.6% in previous year quarter.
The company's net sales during the quarter under review however, increased by 33% to Rs 833 crore from Rs 624 crore in same period last year.
The stock opened at Rs 222 and hit a low of Rs 209 on the BSE. A combined 214,000 shares changed hands on the counter in early morning deals on the BSE and NSE.
EBITDA (earnings before interest, taxes, depreciation, and amortization) margin contracted over 500 basis points on a yoy basis to 12.4% from 17.6% in previous year quarter.
The company's net sales during the quarter under review however, increased by 33% to Rs 833 crore from Rs 624 crore in same period last year.
The stock opened at Rs 222 and hit a low of Rs 209 on the BSE. A combined 214,000 shares changed hands on the counter in early morning deals on the BSE and NSE.
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