The company’s net sales remained flat at Rs 109 crore for the quarter against Rs 108 crore during the corresponding quarter of previous fiscal.
The EBITDA margin for the quarter contracted by 370bp yoy to 2.9% primarily due to increase in employee cost and other expenses by 22.2% and 26.7% respectively as compared to 1QFY2013.
Analyst at Angel Broking says that contraction in consumer product division is due to restructuring of condom business.
The stock opened at Rs 556 and hit a low of Rs 542 on NSE. A combined 19,443 shares have changed hands on the counter till 1008 hours on NSE and BSE.