Ballarpur Inds tumbles on Q2 net loss

Ballarpur Industries fell 6.52% to Rs 15.05 at 11:30 IST on BSE after the company reported consolidated net loss of Rs 50.60 crore in Q2 December 2014 as against net profit of Rs 17.40 crore in Q2 December 2013.

The result was announced after trading hours yesterday, 5 February 2015.

Meanwhile, the BSE Sensex was down 110.99 points, or 0.38%, to 28,739.98.

On BSE, so far 3.75 lakh shares were traded in the counter, compared with an average volume of 3.98 lakh shares in the past one quarter.

The stock hit a high of Rs 16 and a low of Rs 15 so far during the day. The stock hit a 52-week high of Rs 21.80 on 13 June 2014. The stock hit a 52-week low of Rs 11.21 on 3 March 2014.

The stock had outperformed the market over the past one month till 4 February 2015, rising 4.08% compared with 3.57% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 6.74% as against Sensex's 3.67% rise.

The small-cap company has an equity capital of Rs 131.10 crore. Face value per share is Rs 2.

On a consolidated basis, net sales declined 10% to Rs 1189.19 crore in Q2 December 2014 over Q2 December 2013.

The company said the results in Q2 December 2015 are exceptional to the extent of breakdown at its step-down subsidiary Sabah Forest Industries Sdn. Bhd. and consequent production loss resulting in a net loss for the quarter of Rs 81.08 crore.

Rayon grade pulp manufacturing unit located at Kamalapuram (Andhra Pradesh) continues to remain shut due to adverse Indian and global market conditions of rayon grade pulp/viscose staple fibre. This has also impacted the results, the company added.

The Ballarpur Group is the largest manufacturer of writing and printing paper in India.

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