Jubilant Industries plunges 15% on higher Q1 loss

The company posted net loss of Rs 18.90 crore in June 2014 quarter against Rs 16.96 crore in the same quarter year ago.

Jubilant Industries has plunged 15% to Rs 114 after reporting a consolidated net loss of Rs 18.90 crore for the first quarter ended June 30, 2014 (Q1), due to lower operational income and higher interest cost. The agrochemicals company had loss of Rs 16.96 crore in the same quarter last fiscal.

Total operational income of the company declined to Rs 214 crore against Rs 223 crore in the corresponding quarter of previous year.  Finance cost increased by 34% to Rs 9.12 crore from Rs 6.83 crore.

The stock opened at Rs 133, also its 52-week high and touched a low of Rs 110 on BSE. A combined 126,127 shares changed hands on the counter till noon deals on BSE and NSE.