Jay Bharat Maruti tumbles after weak Q1 earnings

Jay Bharat Maruti slumped 9.18% to Rs 144 at 12:53 IST on BSE after net profit fell 11.7% to Rs 7.04 crore on 7% decline in net sales to Rs 282.49 crore in Q1 June 2016 over Q1 June 2015.

The result was announced after market hours yesterday, 14 July 2016.

Meanwhile, the S&P BSE Sensex was down 101.32 points or 0.36% at 27,840.79.

On BSE, so far 12,000 shares were traded in the counter as against average daily volume of 6,570 shares in the past one quarter. The stock hit a high of Rs 151.90 and a low of Rs 142 so far during the day. The stock had hit a 52-week low of Rs 114 on 12 February 2016. The stock had hit a record high of Rs 184.40 on 4 January 2016. The stock had outperformed the market over the past one month till 14 July 2016, surging 8.78% compared with 5.86% rise in the Sensex. The scrip had also outperformed the market in past one quarter, advancing 10.56% as against Sensex's 9.03% rise.

The small-cap company has equity capital of Rs 10.83 crore. Face value per share is Rs 5.

Jay Bharat Maruti is engaged in the business of manufacturing of components for automobiles. The company mainly caters to the needs of its joint venture partner viz. Maruti Suzuki India.

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