Ruchi Soya dips on weak Q4 results

Stock is down 4%

Shares of Ruchi Soya dipped 3.9% to Rs 42.3 on the BSE after posting a net loss of  Rs 19.65 crore in the quarter ended March 2014 as against net profit of Rs 78.59 crore during the previous quarter ended March 2013. Sales of the company declined 16.08% to Rs 6308.07 Crore in the quarter ended March 2014 as copared to  Rs 7516.47 crore during the previous quarter ended March 2013.

For the full year, net profit declined 94.32% to Rs 13.42 Crore in the year ended March 2014 as against Rs 236.26 crore during the previous year ended March 2013. Sales of the company plunged 7.03% to Rs 24262.44 Crore in the year ended March 2014 as against Rs 26097.48 Crore during the previous year ended March 2013.

The Board of Directors allotted 14,000 equity shares of Rs 2 each at a premium of Rs 33 to the eligible employees of the Company on exercise of ESOPs granted to them, pursuant to Employees Stock Option Scheme - 2007 of the Company.

The stock opened at Rs 43, touched a high of Rs 43 and a low of Rs 41.2 on the BSE. Over 398,462 shares were traded on both the stock exchanges so far.