Punj Lloyd plummets over 12pc at close as 1Q net loss widens
MUMBAI: Shares of engineering conglomerate Punj Lloyd Ltd ended the day on Monday over 12% lower after the company reported widening of net loss to Rs.597.84 crore for the AprilJune quarter. After plunging 16.64% to Rs.26.30 in intraday trade, shares of the company finally ended at Rs.27.70, down 12.20% on the BSE.
At the NSE, the stock plummeted 11.86% to settle at Rs.27.85. In terms of volume, 25.65 lakh shares of the company changed hands at the BSE and over 73 lakh shares were traded at the NSE during the day. The company had reported a net loss of Rs.363.92 crore for the first quarter of the previous fiscal.
Its total income from operations dipped sharply 40.98% to Rs.657.35 crore during the quarter under review, from Rs.1,113.83 crore in the same quarter of the last fiscal, the company had said in a BSE filing on Friday. Total expenses for the period stood at Rs.1,050.58 crore during the quarter against Rs.1,445.58 crore a year ago. The Punj Lloyd Group offers EPC services in energy and infrastructure along with engineering and manufacturing capabilities in the defence sector.