Business

Adani Power shares slump over 9% as Q3 loss widens

On NSE, shares of the company dived 9.32% to close at Rs 36.95.

Shares of Adani Power on Thursday tumbled over 9% after the company’s consolidated loss doubled to Rs 1,290.7 crore in the October-December quarter of this fiscal.

The stock dropped 9.21% to end at Rs 36.95 on BSE. Intra-day, it slumped 10.81% to Rs 36.30.

On NSE, shares of the company dived 9.32% to close at Rs 36.95.

The company’s market valuation fell by Rs 1,445.61 crore to Rs 14,251.39 crore.

On the equity volume front, 64.21 lakh shares of the company were traded on BSE and over four crore shares changed hands on NSE during the day.

Adani Power yesterday said its consolidated loss doubled to Rs 1,290.7 crore in the October-December quarter of this fiscal against that of Rs 667.8 crore in the year-ago quarter.

Total consolidated revenue dropped to Rs 4,916 crore during the October-December quarter from Rs 5,491 crore in the same quarter of last year, the Adani group company said in a regulatory filing.

[“source=hindustantimes”]

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