Reliance Infra hits record low

June 17 | Updated on June 17, 2019 Published on June 17, 2019

File photo

Shares of Anil Ambani-led Reliance Infrastructure Ltd plunged approximately 15 per cent to a record low of Rs 50.5.

The company, on Friday, posted its biggest ever standalone loss of Rs 1,664 crore ($238.31 million) due to an expense of Rs 8,597 crore for impairment and write-offs in the quarter.

Also read: ‘Reliance Infrastructure looking to pare debts to zero by 2020’

The auditors to company raised concerns about its ability to continue as a going concern and said that they do not have sufficient evidence to determine if the result gave a “true and fair” view of the losses and income.

The stock of Reliance Infrastructure was down 81.3 per cent this year as of last close.

($1 = 69.8262 Indian rupees)

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

Published on June 17, 2019
This article is closed for comments.
Please Email the Editor