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Opto Circuits tanks on Q3 loss

The stock has tanked 14% to Rs 24.90 after reporting a net loss of Rs 7 crore in Q3FY14 against profit of Rs 113 crore.

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SI Reporter Mumbai
Opto Circuits (India) has tanked 14% to Rs 24.90 on BSE, after reporting a consolidated net loss of Rs 6.79 crore for the third quarter ended December 31, 2013 (Q3), due to lower operational income and higher interest cost. The medical equipment maker had registered a profit of Rs 113 crore in the same quarter last fiscal.

Consolidated net sales of the company for the quarter decreased by 42.8% at Rs 354 crore against Rs 619 crore in the corresponding quarter of previous fiscal. Finance cost has almost doubled to Rs 38 crore from Rs 20 crore during the quarter under review, Opto Circuits said in a statement.

The stock opened at Rs 27.40 and touched a low of Rs 24.35 on the BSE. A combined 2.39 million shares changed hands on the counter so far on the BSE and NSE.
 
 

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First Published: Feb 17 2014 | 9:40 AM IST

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