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Electrosteel Steels declines on reporting net loss of Rs 293.34 crore in Q4FY17

16 May 2017 Evaluate

Electrosteel Steels is currently trading at Rs. 5.55, down by 0.03 points or 0.54% from its previous closing of Rs. 5.58 on the BSE.

The scrip opened at Rs. 5.60 and has touched a high and low of Rs. 5.75 and Rs. 5.46 respectively. So far 369345 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 6.75 on 10-Apr-2017 and a 52 week low of Rs. 2.42 on 29-Jun-2016.

Last one week high and low of the scrip stood at Rs. 5.75 and Rs. 5.35 respectively. The current market cap of the company is Rs. 1344.35 crore.

The promoters holding in the company stood at 45.23%, while Institutions and Non-Institutions held 29.60% and 25.17% respectively.

Electrosteel Steels has posted a net loss of Rs 293.34 crore for the quarter ended March 31, 2017, as compared to a net profit of Rs 265.15 crore for the same quarter in the previous year. Total income of the company decreased by 15.96% at Rs 802.51 crore for quarter under review, as compared to Rs 954.93 crore for the quarter ended March 31, 2016.

For the year ended March 31, 2017, the company has posted a net loss of Rs 1463.48 crore as compared to a net loss of Rs 368 crore for the same period in the previous year. Total income of company decreased by 1.26% at Rs 2867.83 crore for year under review as compared to Rs 2904.47 crore for the period ended March 31, 2016.

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