Arvind Remedies tumbled 10.33% to Rs 16.50 at 10:32 IST on BSE after the company reported a net loss of Rs 157.99 crore in Q3 December 2014 compared with net profit of Rs 18.60 crore in Q3 December 2013.
The Q3 result was announced after market hours yesterday, 27 February 2015.
Meanwhile, the BSE Sensex was up 216.21 points or 0.74% at 29,436.33.
On BSE, so far 5.36 lakh shares were traded in the counter as against average daily volume of 4.51 lakh shares in the past one quarter.
The stock hit a low of Rs 16.35 so far during the day, which is a 52-week low for the counter. The stock hit a high of Rs 18.15 so far during the day. The stock had hit a 52-week high of Rs 66.05 on 8 September 2014.
The stock had underperformed the market over the past one month till 27 February 2015, declining 23.81% compared with Sensex's 1.19% fall. The scrip had also underperformed the market in past one quarter, sliding 44.58% as against Sensex's 2.75% rise.
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The small-cap pharma company has equity capital of Rs 68.13 crore. Face value per share is Rs 10.
Arvind Remedies' total income from operations fell 24.43% to Rs 176.23 crore in Q3 December 2014 over Q3 December 2013.
Arvind Remedies' board of directors at its meeting held yesterday, 27 February 2015, discussed on the debt restructuring proposal which has been taken up in view of the liquidity problem. It was felt that restructuring will be beneficial to the company, and discussed about the progress in this regard, Arvind Remedies said.
Arvind Remedies manufactures and markets allopathic and ayurvedic pharmaceutical products.
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