Rain Industries hits 10% lower circuit on weak December quarter numbers

The stock locked in lower circuit of 10% at Rs 97.65 after it reported a net loss of Rs 139 crore in Q4CY18 against profit of Rs 307 crore in a year ago quarter.

Shares of Rain Industries locked in lower circuit of 10 per cent at Rs 97.65 apiece on the BSE after the company reported the biggest net loss in the past four years in October-December quarter (Q4CY18), mainly due to lower operating performance. The petrochemicals company posted a net loss of Rs 139 crore in Q4CY18 against a net profit of Rs 307 crore in the year-ago quarter. Earlier, in December 2014 quarter Rain Industries posted a net loss of Rs 200 crore.

Net revenue of the company during the quarter under review grew 10 per cent at Rs 3,428