Jai Corp down in the red

Jai Corp is not doing too well today morning. The stock price is down over 2.5% at Rs.75.50 with an intra day high at Rs.73.40.

The stock is down in the red on the back of its poor performance for Q1FY17. Its net profit was down 42% at Rs.6 crore on a 13% drop in total income Rs.193 crore. Other income was down 33% at Rs.11 crore.

Thanks to the lower costs, EBITDA was up 15% at Rs.27 crore and margins showed a slight improvement from 13.8% to 14.1%.