Electrosteel Steels lost 5.11% to Rs 3.90 at 12:07 IST on BSE after the company reported a net loss of Rs 113.82 crore in Q4 March 2014, lower than net loss of Rs 121.87 crore in Q4 March 2013.
The Q4 result was announced after market hours on Monday, 5 May 2014.
Meanwhile, the S&P BSE Sensex was up 93.20 points or 0.42% at 22,538.32.
On BSE, so far 1.70 lakh shares were traded in the counter as against average daily volume of 1.06 lakh shares in past one quarter.
The stock hit a high of Rs 4 and a low of Rs 3.88 so far in the day. The stock had hit a record low of Rs 2.56 on 29 July 2013. The stock had hit a 52-week high of Rs 5.19 on 16 April 2014.
The stock had underperformed the market over the past one month till 5 May 2014, sliding 3.52% compared with the Sensex's 0.38% rise. The scrip had also underperformed the market in past one quarter, advancing 4.31% as against Sensex's 10.78% rise.
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The small-cap company has equity capital of Rs 2186.74 crore. Face value per share is Rs 10.
Electrosteel Steels' net sales rose 21.6% to Rs 88.46 crore in Q4 March 2014 over Q4 March 2013.
Electrosteel Steels reported a net loss of Rs 291.13 crore in the year ended 31 March 2014 (FY 2014), higher than net loss of Rs 280.01 crore in the year ended 31 March 2013 (FY 2013). Net sales rose 235% to Rs 469.30 crore in FY 2014 over FY 2013.
Electrosteel Steels is an associate company of Electrosteel Group.
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