Kitex Garments slumps after weak Q4 results

Kitex Garments tumbled 13.88% to Rs 249.95 at 14:14 IST on BSE after net profit dropped 44.59% to Rs 17.62 crore on 2.42% fall in total income to Rs 145.88 crore in Q3 December 2017 over Q3 December 2016.

The results were announced after market hours on Friday, 9 February 2018.

Meanwhile, the S&P BSE Sensex was up 256.87 points, or 0.76% to 34,267.27. The S&P BSE Small-Cap index was up 327 points, or 1.8% to 18,172.98.

On the BSE, 92,000 shares were traded in the counter so far, compared with average daily volumes of 12,403 shares in the past one quarter. The stock had hit a high of Rs 275 and low of Rs 245.75 so far during the day. The stock had hit a 52-week high of Rs 384.29 on 25 April 2017. The stock had hit a 52-week low of Rs 198 on 18 October 2017.

The stock had underperformed the market over the past 30 days till 9 February 2018, falling 9.62% compared with 1.44% fall in the Sensex. The scrip also underperformed the market in past one quarter, sliding 4.03% as against Sensex's 2.07% rise. The scrip also underperformed the market in past one year, falling 5.82% as against Sensex's 20.02% rise.

The small-cap company has equity capital of Rs 6.65 crore. Face value per share is Re 1.

Kitex Garments is a producer of children's apparel. It caters to conglomerates in USA and Europe.

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