Shares of Kwality Ltd Friday slumped by over 4 per cent after the company reported a steep fall in its net profit for the June quarter.
Shares of Kwality fell by 4.43 per cent and settled at Rs 20.5 on the BSE. During the intra-day trade, it touched a high of Rs 22.20 and low of Rs 20.40
"This started when the company could not service its customers with the required goods due to liquidity crunch, a situation that emerged primarily towards the end of the quarter triggered due to non-disbursement of sanctioned working capital from banking partners," it said
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