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Shares of CG Power and Industrial Solutions, engaged in the business of power transformers and reactors, dropped on Q4 loss. The stock fell as much as 7.2 per cent to Rs 71.3. The stock dropped the most since February 2.
The company’s consolidated net loss increased by 31 per cent to Rs 581.82 crore in the quarter ended March 2018 due to provision for exception items of Rs 414.84 crore. Consolidated net loss was Rs 444 crore in the quarter ended March 31, 2017.
Total consolidated income of the company stood at Rs 1,792.56 crore in the March quarter up from Rs 1,650.88 crore a year ago.
Consolidated net loss in 2017-18 was Rs 1,165.90 crore compared with Rs 490.63 crore in the previous financial year. Total income during the fiscal increased to Rs 6,327.07 crore from Rs 5,991.16 crore in 2016-17.
Nearly 2.1 million shares traded as of 0505 GMT, compared with the 30-day average volume of 1.63 million.
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