Freshtrop Fruits was locked at 5% upper circuit at Rs 96.70 at 12:35 IST on BSE after the company said unseasonal rainfall will not have any significant effect on the profit of the company for year ended 31 March 2015.
The announcement was made after market hours yesterday, 21 April 2015.
Meanwhile, the BSE Sensex was up 74.90 points, or 0.27%, to 27,750.94.
On BSE, so far 3.3 lakh shares were traded in the counter, compared with an average volume of 67,655 shares in the past one quarter.
The stock hit a high of Rs 96.70 and a low of Rs 89.10 so far during the day. The stock had hit a record high of Rs 207 on 21 January 2015. The stock had hit a 52-week low of Rs 22.75 on 20 May 2014.
The stock had underperformed the market over the past one month till 21 April 2015, falling 42.76% compared with 2.07% fall in the Sensex. The scrip had also underperformed the market in past one quarter, declining 51.27% as against Sensex's 4.2% decline.
More From This Section
The small-cap fruits processing company has an equity capital of Rs 12.15 crore. Face value per share is Rs 10.
Freshtrop Fruits announced that the unseasonal rainfall has affected the grape export business of the company. The total exports of grapes for the season would be 30 to 35% less than last year but there is a significant improvement in the selling price. The unseasonal rainfall will have not any significant effect on the profit of the company for year ended 31 March 2015 (FY 2015). The effect will be there in Q1 June 2015 but this could be mitigated by better price realization.
Freshtrop Fruits reported net loss of Rs 0.79 crore in Q3 December 2014 compared with net loss of Rs 1.15 crore in Q3 December 2013. Total income rose 2.7% to Rs 6.44 crore in Q3 December 2014 over Q3 December 2013.
Powered by Capital Market - Live News