Reliance Defence shares plummet nearly 15% on Q1 numbers

Shares of Reliance Defence and Engineering Ltd on Monday fell sharply by nearly 15 per cent after the company reported a net loss of Rs 134.50 crore for the first quarter ended June 30.

The scrip plummeted by 13.51 per cent to end at Rs 56.35 on BSE. Intra-day, it dived 15.11 per cent to Rs 55.30.

On NSE, shares of the company tanked 14.70 per cent to end at Rs 55.40.

In terms of volume, 60.57 lakh shares of the company were traded on BSE and over 3 crore shares changed hands at NSE during the day.

The company posted its June quarter results on Saturday.

It had reported a net loss of Rs 167.27 crore for the corresponding quarter of 2015-16 fiscal.

Its total income from operations declined to Rs 70.34 crore in the first quarter of the current fiscal as against Rs 106.96 crore in the year-ago period.

Total expenses also declined to Rs 118.75 crore during the quarter as against Rs 170.48 crore in the year-ago period.