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Shares of Adani Power tumbled over 6 per cent today after the company reported over 70 plunge in consolidated net profit for the quarter ended March 31, 2015.
The stock fell 6.22 per cent to Rs 40.70 on the BSE. On the NSE, it slumped 6.22 per cent to Rs 40.70.
Adani Power had yesterday reported 71.72 per cent plunge in consolidated net profit for the quarter under review to Rs 715.05 crore due to a decline in sales.
The net profit stood at Rs 2,528.55 crore in the previous fiscal.
Total revenues for the January-March quarter came in at Rs 4,667.56 crore against Rs 5,996.49 crore in the year-ago period, the company had said in a statement.
During the quarter, the company reported an exceptional income of Rs 657.56 crore, mainly due to gains arising out of the demerger of transmission business and subsequent stake sale to Adani Transmission.
For 2014-15, the company’s consolidated net loss widened to Rs 815.63 crore from Rs 290.55 crore in 2013-14.
Total revenues rose 24 per cent to Rs 19,544.94 crore from Rs 15,768.08 crore.
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