Ricoh India has locked in lower circuit of 10% at Rs 176 in otherwise firm market on BSE after reporting a net loss of Rs 15 crore for the first quarter ended June 30, 2014 (Q1), due to higher interest burden and operational cost. The company had profit of Rs 3.18 crore in the same quarter last fiscal and Rs 14.22 crore in March quarter.
Net sales of the company during the quarter under review however, grew 33% to Rs 227 crore against Rs 171 crore in the corresponding quarter of previous fiscal. Finance cost increased by nearly four-fold at Rs 15 crore from Rs 4 crore.
The stock opened at 180 and touched high of Rs 185 so far. At 1050 hours, around 206,000 shares changed hands on the counter and there are pending sell orders for 79,440 shares on BSE.
Net sales of the company during the quarter under review however, grew 33% to Rs 227 crore against Rs 171 crore in the corresponding quarter of previous fiscal. Finance cost increased by nearly four-fold at Rs 15 crore from Rs 4 crore.
The stock opened at 180 and touched high of Rs 185 so far. At 1050 hours, around 206,000 shares changed hands on the counter and there are pending sell orders for 79,440 shares on BSE.
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