Penny Stock Update: JCT reports losses; stock locks in the lower circuit

The share prices of JCT Ltd were seen locked in lower circuit at Rs 3.08 per share on Monday trading session on an intraday basis.  

JCT Ltd reported poor set of numbers previous week. The company reported net loss of Rs 704 lacs versus a net profit of Rs 571 lacs in the previous quarter while the net profit declared in the similar quarter previous year was Rs 441 lacs.  

The EPS was reported at negative 0.08 per share versus an EPS of 0.07 per share in the previous quarter.  

JCT share price has corrected by almost 26 percent from its 52-week highs made in August itself. The share price of JCT has risen by more than 190 percent in one year while in 2021 alone the share price of JCT has jumped by more than 224 per cent. 

JCT is engaged in the business of manufacturing of cloth and nylon filament yarn, with its manufacturing facilities at Phagwara and Hoshiarpur in Punjab.