Jay Shree Tea & Industries drops after reporting disappointing Q1 results

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Jay Shree Tea & Industries dropped 5.71% to Rs 75.10 at 14:45 IST on BSE after the company reported net loss of Rs 31.84 crore in Q1 June 2015 higher compared with net loss of Rs 5.54 crore in Q1 June 2014.

The result was announced during market hours today, 4 August 2015.

Meanwhile, the S&P BSE Sensex was down 262.50 points or 0.93% at 27,924.56.

On BSE, so far 1.01 lakh shares were traded in the counter as against average daily volume of 17,248 shares in the past one quarter.

The stock hit a high of Rs 80 and a low of Rs 73.60 so far during the day. The stock had hit a 52-week high of Rs 110.25 on 22 August 2014. The stock had hit a 52-week low of Rs 62.10 on 16 June 2015.

The stock had outperformed the market over the past one month till 3 August 2015, rising 20.23% compared with Sensex's 0.34% gain. The scrip had also outperformed the market in past one quarter, gaining 7.35% as against Sensex's 4.35% gain.

The small-cap company has equity capital of Rs 14.44 crore. Face value per share is Rs 5.

Jay Shree Tea & Industries' net total income from operations fell 9.46% to Rs 104.67 crore in Q1 June 2015 over Q1 June 2014.

Separately, Jay Shree Tea & Industries said that the board of directors of the company at its meeting held today, 4 August 2015, inter alia, has approved the scheme of arrangement to demerge the sugar division of the company situated at Bihar into Majhaulia Sugar Industries, a subsidiary company and shares held in the name of Jay Shree Beneficiary Trust Unit, into Jayantika Investment & Finance (formerly Parvati Tea Company), subsidiary company from 1 October 2015, subject to necessary approval.

Jay Shree Tea & Industries have been synonymous with luxury tea in the wholesale market for close to seventy years. Formed on 27 October, 1945, Jay Shree is a diversified conglomerate of the well known BK Birla empire.

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