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Shares of power trader PTC India tumbled by over 7 per cent in morning trade today after the company posted nearly 75 per cent decline in net profit for the three months ended December, 2011.
Following the weak results, shares of the company opened on a sluggish note and further slipped by 7.36 per cent to Rs 45.25 on the National Stock Exchange.
At the BSE, the scrip shed 6.65 per cent to Rs 45.60.
In terms of volume, 6.33 lakh shares of the company got traded on BSE, while more than 23 lakh equities exchanged hands on NSE during the morning trade.
PTC India posted nearly 75 per cent decline in net profit at Rs 9.52 crore for the three months ended December, 2011, mainly on account of non-payment of dues by state utilities.
The entity had a net profit of Rs 37.96 crore in the same period a year ago.
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