Kesoram Industries has tanked 10% to Rs 66.30 after its net loss widened to Rs 199 crore during the January-March quarter (Q4), due to lower operational income, higher finance costs and tax outgo.
B K Birla Group Company, which has interests in tyre and cement manufacturing, had reported a loss of Rs 62 crore in the corresponding quarter last fiscal.
Net sales of the company were also down to Rs 1,324 crore in the quarter compared to Rs 1,469 crore a year ago.
Meanwhile, the company has reported a net loss of Rs 516 crore for the entire financial year 2013-14 compared with a loss of Rs 329 crore in the previous financial year.
The company said EBITDA of cement business declined to 278 crore in 2013-14 as compared to Rs 434 crore, driven by harsh market conditions, with volume offtake and pricing remaining weak.
However, tyre business steadily improved profitability with operating profit margin rose from 2% in 2012-13 to 7% in 2013-14.
The stock opened at Rs 69.80 and hit a low of Rs 66.15 on the NSE. The counter has seen huge trading activity with a combined 1.15 million shares changing hands till 1145 hours as against an average sub 1 million shares that were traded daily in past two weeks on the NSE and BSE.
B K Birla Group Company, which has interests in tyre and cement manufacturing, had reported a loss of Rs 62 crore in the corresponding quarter last fiscal.
Net sales of the company were also down to Rs 1,324 crore in the quarter compared to Rs 1,469 crore a year ago.
Meanwhile, the company has reported a net loss of Rs 516 crore for the entire financial year 2013-14 compared with a loss of Rs 329 crore in the previous financial year.
The company said EBITDA of cement business declined to 278 crore in 2013-14 as compared to Rs 434 crore, driven by harsh market conditions, with volume offtake and pricing remaining weak.
However, tyre business steadily improved profitability with operating profit margin rose from 2% in 2012-13 to 7% in 2013-14.
The stock opened at Rs 69.80 and hit a low of Rs 66.15 on the NSE. The counter has seen huge trading activity with a combined 1.15 million shares changing hands till 1145 hours as against an average sub 1 million shares that were traded daily in past two weeks on the NSE and BSE.
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