Jyoti Structures tumbled 17.19% to Rs 18.30 at 11:15 IST on BSE after the company reported net loss of Rs 151.97 crore in Q1 June 2015, much higher than net loss of Rs 15.97 crore in Q1 June 2014.
The Q1 result was announced after market hours yesterday, 13 August 2015.
Meanwhile, the S&P BSE Sensex was up 324.92 points or 1.18% at 27,874.45.
The stock tumbled on heavy volumes. On BSE, so far 11.29 lakh shares were traded in the counter as against average daily volume of 1.21 lakh shares in the past one quarter.
The stock hit a low of Rs 17.70 so far during the day, which is a 52-week low for the counter. The stock hit a high of Rs 21.25 so far during the day. The stock had hit a 52-week high of Rs 51.45 on 15 September 2014.
The stock had underperformed the market over the past one month till 13 August 2015, declining 14.17% compared with Sensex's 1.47% fall. The scrip had also underperformed the market in past one quarter, sliding 16.13% as against Sensex's 1.1% rise.
The small-cap company has equity capital of Rs 21.91 crore. Face value per share is Rs 2.
Jyoti Structures' net sales dropped 12.9% to Rs 599.91 crore in Q1 June 2015 over Q1 June 2014.
Jyoti Structures is in turnkey/EPC projects in the field of power transmission. The company's main business focus areas are transmission lines, substations and distribution projects. The company undertakes turnkey projects on a global scale, offering a complete range of services in design, testing, manufacturing, sourcing, supply and construction with its in-house expertise.
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