Stocks

Crompton Greaves slumps 6% on Q2 loss, power biz sale hurdle

PTI Mumbai | Updated on January 16, 2018 Published on December 08, 2016

Shares of Crompton Greaves settled nearly 6 per cent down today after the company reported a consolidated net loss of Rs 10.41 crore for the quarter ended September 30, besides uncertainties that prevailed over the sale of its international power business.

Opening on a weak note, the stock further plunged 5.85 per cent to end the day at Rs 62 on the BSE. Intraday, it touched a low of 8.8 per cent.

On the NSE, the shares tumbled 5.71 per cent to close at Rs 61.90.

On the volume front, 45.09 lakh shares changed hands on the BSE and over 29 lakh shares were traded on the NSE.

The company had yesterday reported a consolidated net loss of Rs 10.41 crore for the quarter ended September 30. It had posted a net profit of Rs 10.58 crore in the year-ago period.

Total income increased to Rs 1,545.19 crore during the period from Rs 1,446.99 crore on September 30, 2015, the firm said in a regulatory filing.

Besides, the company said a deal with Pauwels Spaco Ltd — an SPV of first reserve (parties) for the sale of its power business in Europe, North America and Indonesia stands terminated.

Published on December 08, 2016
This article is closed for comments.
Please Email the Editor