Usha Martin slips on poor Q4 nos

Usha Martin is trading lower by 4% at Rs 25.65 after the company reported its FY12 results post market hours on Thursday.

The company posted a decline of 97.36% in net profit which came in at at Rs 3.61 crore for the fiscal ended March 31, 2012. It had recorded a net profit of Rs 137 crore in 2010-11.

"The overseas business was impacted due to global crisis, but at EBITA level it had contributed close to Rs 80 crore," Usha Martin CFO A K Somani said.

The stock opened at Rs 26 and tpuched the low of Rs 25 in trades so far. As many as 29,000 shares have changed hands compared to its two week average of 40,000 shares.