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Shares of Kitex Garments slumped to a near 4-year low on fall in Q4 profit. The garment manufacturer's shares fell as much as 18.9 per cent to Rs 183.15, their lowest since August 8, 2014.
The Kochi-based company reported a 62 per cent fall in Q4 profit and 26 per cent decline in revenue from operations. The stock was the top percentage loser on the NSE.
Today’s fall was its biggest intra-day percentage loss in almost 33 months. Almost 4,60,000 shares were traded vs their 30-day moving average of 41,790 shares.
Up to Friday's close, the stock had fallen 26.21 per cent this year compared with a 15.1 per cent decline in peer Monte Carlo Fashions Ltd, and 18.23 per cent fall in Indian Terrain Fashions Ltd.
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