Jyoti Structure drops 10% on Q4 loss

The company reported a net loss of Rs 12.53 crore in Q4 2014 compared to net profit of Rs 22.20 cr in Q4 of 2013

Shares of Jyoti Structures plunged 10% to Rs 54.9 on BSE after posting a net loss of Rs 12.53 crore in the fourth quarter ended March 2014 as compared to a net profit of Rs 22.20 crore in the same quarter last fiscal.Further, total income from operations rose 39.3% Rs 1307.62 crore in Q4 March 2014 over Q4 March 2013.

Jyoti Structures' net profit declined 50.15% to Rs 32.32 crore for the year 2013-2014 under review as compared to Rs 64.84 crore . In addition,  total income from operations surged 18.7% to Rs 3331 crore in the year ended 31 March 2014  as compared to Rs 2806 crore in the year ended 31 March 2013.

On a consolidated basis, For the year 2013-2014, Jyoti Structures posted a net loss of Rs 9.36 crore  as against a net profit of Rs 37.80 crore in the previous fiscal. Furthermore, total income from operations (net) rose 20.69% to Rs 3638.53 crore in the year ended 31 March 2014 over the year ended 31 March 2013.

The stock opened at Rs 56.70 and touched a low of Rs 54.90. Over 300,000 shares were traded on the Bombay Stock Exchange so far.