Zenotech Labs turns sick, files with BIFR; stock sinks 5%

Moneycontrol Bureau

Zenotech Laboratories shares are locked at 5 percent lower circuit at Rs 39.35 on the Bombay Stock Exchange Tuesday after the loss making company declared itself as a sick industrial company.

"The company has been registered as a "sick industrial company" with the Board for Industrial and Financial Reconstruction (BIFR)," it said in its filing to exchange.

The company has consistently been reporting losses. In the quarter ended June 2015, its net loss stood at Rs 5.12 crore against Rs 10.20 crore in March quarter and Rs 4.78 crore in June 2014. Revenue also declined to Rs 0.69 crore in June quarter from Rs 0.89 crore on sequential basis and Rs 1.48 crore on yearly basis.