Suryalakshmi Cotton Mills slips over 7% on weak Q1

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Shares of Suryalakshmi Cotton Mills plunged over 7 per cent on the Bombay Stock Exchange after the company reported 92.9 per cent year-on-year decline in its net profit at Rs 0.52 crore versus net sales of Rs 171.98 crore for the first quarter ended June 30, 2017. Driven by strong Q1, shares of the company declined as much as 7.14 per cent to hit intra-day low of Rs 92.30 apiece on the Bombay Stock Exchange.

The stocks were currently trading at Rs 93.50 against the previous close price of Rs 99.40. In a similar fashion, shares of the company were trading 4.30 per cent lower at Rs 94.60 apiece on the National Stock Exchange. 

Meanwhile, the broader benchmark BSE Sensex was trading at 31,517.17, down 233.65 points, or 0.74 per cent, at 12:05 hours.

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