Jyoti Structures slumps after dismal Q4 show

Jyoti Structures was locked at 10% lower circuit at Rs 54.90 at 14:22 IST on BSE after the company reported a net loss of Rs 12.53 crore in Q4 March 2014 as compared to net profit of Rs 22.20 crore in Q4 March 2013.

The Q4 result was announced after market hours on Friday, 30 May 2014.

Meanwhile, the S&P BSE Sensex was up 421.09 points or 1.74% at 24,638.43.

On BSE, so far 1.19 lakh shares were traded in the counter as against average daily volume of 2.13 lakh shares in the past one quarter.

The stock hit a high of Rs 56.70 so far during the day. The stock hit a 52-week high of Rs 68.40 on 26 May 2014. The stock hit a 52-week low of Rs 15.05 on 2 August 2013.

The stock had outperformed the market over the past one month till 30 May 2014, surging 69.92% compared with Sensex's 8.03% rise. The scrip had also outperformed the market in past one quarter, jumping 117.47% as against Sensex's 14.66% rise.

The small-cap company has equity capital of Rs 16.46 crore. Face value per share is Rs 2.

Jyoti Structures' total income from operations (net) rose 39.33% to Rs 1307.62 crore in Q4 March 2014 over Q4 March 2013.

Jyoti Structures' net profit dropped 50.15% to Rs 32.32 crore on 18.7% growth in total income from operations (net) to Rs 3330.77 crore in the year ended 31 March 2014 (FY 2014) over the year ended 31 March 2013 (FY 2013).

On a consolidated basis, Jyoti Structures reported net loss of Rs 9.36 crore in the year ended 31 March 2014 as compared to net profit of Rs 37.80 in the year ended 31 March 2013. Total income from operations (net) rose 20.69% to Rs 3638.53 crore in the year ended 31 March 2014 over the year ended 31 March 2013.

Jyoti Structures undertakes turnkey/engineering, procurement and construction (EPC) projects in the field of power transmission. Its main business focus areas are transmission lines, substations and distribution projects.

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