Suryalakshmi Cotton tumbles after weak Q1 numbers

Suryalakshmi Cotton Mills tanked 6.44% to Rs 93 at 10:40 IST on BSE after net profit fell 92.9% to Rs 0.52 crore on 8.8% decrease in net sales to Rs 171.98 crore in Q1 June 2017 over Q1 June 2016.

The result was announced after market hours yesterday, 28 August 2017.

Meanwhile, the S&P BSE Sensex was down 254.72 points, or 0.8% at 31,496.10. The S&P BSE Small-Cap index was down 68.51 points, or 0.43% at 15,749.04.

On the BSE, 4,903 shares were traded on the counter so far as against the average daily volumes of 6,816 shares in the past one quarter. The stock had hit a high of Rs 95 and a low of Rs 92.30 so far during the day. The stock had hit a 52-week high of Rs 151.70 on 2 September 2016 and a 52-week low of Rs 95.65 on 11 August 2017.

The stock had underperformed the market over the past one month till 28 August 2017, sliding 8.43% compared with the Sensex's 1.73% fall. The scrip had also underperformed the market over the past one quarter declining 7.88% as against the Sensex's 2.33% rise. The scrip had also underperformed the market over the past one year declining 27.84% as against the Sensex's 14.28% rise.

The small-cap company has equity capital of Rs 16.67 crore. Face value per share is Rs 10.

Suryalakshmi Cotton Mills is an integrated manufacturer of yarn, denim fabric and garments. The company's segments include spinning, denim, power plant and garment.

Powered by Capital Market - Live News