Shree Renuka Sugars dip on disappointing Q4

Company posted net loss of Rs 71.9 crore

Shares of Shree Renuka Sugars are trading lower by nearly 4% at Rs 26 on the back of disappointing Q4FY12 numbers.

The company posted consolidated net loss of Rs 71.90 crore in the quarter ended March 2012 compared to a net profit of Rs 59.40 crore during the same quarter previous fiscal. The net income came in at Rs 980 crore compared to Rs 697 crore on y-o-y basis.

The shares opened at Rs 27 and touched the intra-day low of 26. A total of 7,37,000 shares have changed hands compared to its two-week average of 6,66,000 shares.