Pratibha Industries shares fell over nearly 5 per cent on Monday after it posted a consolidated net loss of Rs 30.15 crore for the quarter ended June 30 as against Rs 16.45 crore in the same quarter of 2015-16. The company cited decline in income as the factor behind the loss with it falling to Rs 694.86 crore during the quarter as against Rs 826.11 crore a year-ago.
At 12.31 pm, share price of the company was trading 4.88 per cent down at Rs 21.45. The scrip opened at Rs 21.45 and touched a high and low of Rs 21.45 and Rs 21.45, respectively. Later, the scrip ended 4.88 per cent down at Rs 21.45.
The company’s total expenditure was down at Rs 589.43 crore during the April-June quarter as against Rs 672.23 crore in the year-ago quarter.
“Company’s aggregate exposure is of Rs 88.77 crore consisting of investment in the equity share capital and interest free advances granted to these subsidiary companies,” it said in a BSE filing. The company further added that it is operating only in one segment – engineering, procurement and construction and networth of its two wholly owned subsidiaries have fully eroded due to losses.
The BSE group ‘A’ stock of face value Rs 2 has touched a 52 week high of Rs. 50.95 on 15-Dec-2015 and a 52 week low of Rs. 17.55 on 16-Aug-2016.
The promoters holding in the company stood at 46.95 per cent, while public stood at 53.05 per cent.
The company is engaged in the areas of urban infrastructure, which includes water supply and distribution projects, waste and sewerage management, including environmental engineering.