Renuka Sugars down for 4th straight day, ends 11% lower on BSE

MUMBAI: Continuing the downfall for the fourth straight session today, shares of Shree Renuka Sugars settled 11 per cent lower on bourses today after the company reported weak results for the quarter ended September 30.

Shares of the country's largest sugar refiner ended at Rs 34.25, down 10.81 per cent from the last close on BSE.

In the previous session, the scrip had slumped by over 30 per cent. The company's stock has lost nearly 40 per cent in the past four trading sessions.

In the process, the company lost Rs 1,517 crore in its market vale at Rs 2,299 crore as on today, from Rs 3,816 crore on November 8.

Hit by higher interest and huge foreign exchange losses, Shree Renuka Sugars reported a net loss of Rs 618.5 crore for the quarter ended September 30.

The company had posted a net profit of Rs 127.8 crore for the same period last year.

Its performance was also affected by higher interest costs which rose to Rs 192.5 crore during the quarter ended September 30. In the same period last year, Shree Renuka Sugars interest costs amounted to Rs 117.7 crore.