Shree Ganesh Jewellery tanks on heavy losses in Q2
The stock was locked in lower circuit of 10% at Rs 33.30 on the National Stock Exchange.
Shree Ganesh Jewellery House (India) is locked in lower circuit of 10% at Rs 33.30 on NSE after reporting huge losses of Rs 1,048 crore for the second quarter ended September 2013 (Q2), due to higher expenditure. The company had profit of Rs 83 crore in a year ago quarter.
Income from operations grew by 82% year-on-year (yoy) at Rs 4,142 crore, while total expenditure surged 140% yoy at Rs 5,150 crore during the recently concluded quarter, Shree Ganesh Jewellery House said in a statement.
A combined 56,390 shares have changed hands on the counter till early morning deals and there are pending sell orders for 145,070 shares on the NSE and BSE.
Income from operations grew by 82% year-on-year (yoy) at Rs 4,142 crore, while total expenditure surged 140% yoy at Rs 5,150 crore during the recently concluded quarter, Shree Ganesh Jewellery House said in a statement.
A combined 56,390 shares have changed hands on the counter till early morning deals and there are pending sell orders for 145,070 shares on the NSE and BSE.