Shares of Emami Paper Mills plunged 10.6 percent intraday Wednesday on dismal performance by the company in the quarter ended March 2017 (Q4FY17).
The company has registered 94 percent decline in its Q4 net profit at Rs 1.4 crore versus Rs 23.4 crore, in the same quarter last year.
Meanwhile, revenue of the company has increased by 110 percent at Rs 300.8 crore against Rs 143.1 crore.
The operating profit (EBITDA) was up 6.6 percent at Rs 16.2 crore and EBITDA margin was at 5.4 percent.
The company at its meeting held on May 16, has recommended dividend at 60 percent (Rs 1.20) on equity shares and 8 percent on preference shares for the year ended March 31, 2017.
At 10:55 hrs Emami Paper Mills was quoting at Rs 123.75, down Rs 5.95, or 4.59 percent on the BSE.