Adani Power dips over 4% as Q3 loss widens
PTI: Mumbai, Jan 28 2013, 20:51 IST
Shares of Adani Power today fell by over 4 per cent after the company reported higher consolidated net loss of Rs 619 crore for the third quarter ended December.
The company scrip settled at Rs 60.90, down 4.4 per cent from its previous close on the BSE. During the day, it had tanked 5.41 per cent to Rs 60.25.
At NSE, the scrip closed the day with a loss of 4.77 per cent at Rs 60.85. In terms of volume, 16.73 lakh shares of the company changed hands on BSE, while over 84 lakh shares were traded on NSE.
The private power producer had a consolidated net loss of Rs 356.3 crore in the 2011 December quarter.
The latest quarterly loss was mainly "due to higher imported coal prices and non-availability of transmission line", Adani Power said in a statement today.
However, the company's consolidated total income in the December 2012 quarter rose to Rs 1,884 crore from Rs 1,079 crore in the year-ago period.
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