RSWM hits 52-week low, slips 17% on Rs 28.5 crore loss in December quarter

The stock hit a 52-week low of Rs 148, down 17% after the company reported net loss of Rs 28.53 crore in December 2018 quarter against profit of Rs 9.21 crore in a year ago quarter.

Shares of RSWM slipped 17 per cent to Rs 148 apiece, also their 52-week low on the BSE in early trade after the company reported a net loss of Rs 28.53 crore in December 2018 quarter (Q3FY19) on lower sales. The textile company had posted a profit of Rs 9.21 crore during the same quarter last fiscal.

The company’s operational revenue during the quarter under review declined 12 per cent to Rs 689 crore against Rs 787 crore in the corresponding quarter of previous fiscal.

RSWM has posted a net loss of Rs 18 crore in the first nine