Mafatlal Industries soars on pruning losses

DALAL STREET SPIKES

Mafatlal Industries was locked in the 10 per cent upper circuit at Rs 71.65 on the BSE after it reported a net loss of Rs 9.74 crore in the fourth quarter. This was much lower than net loss of Rs 65.21 crore in the corresponding quarter last year.

The company's sales fell 75.64 per cent to Rs 32.08 crore in Q4 September 2007 over Q4 September 2006. The company manufactures and markets textile goods and yarn, dyes and intermediates.