 "Alstom T&D India dips on disappointing Q3 results")
Alstom T & D India has dipped 10% to Rs 382, also its 52-week low on the BSE, after the company reported a standalone net loss of Rs 18 crore for the third quarter ended December 31, 2015 (Q3FY16) against profit of Rs 46 crore in the year ago quarter. The company had profit of Rs 2.58 crore in September quarter.
Net sales of the company during the quarter under review declined by 17.6% at Rs 744 crore against Rs 903 crore in the corresponding quarter of previous fiscal.
“We had a difficult quarter due to delayed sales impacted by Chennai flood and higher material costs/expenses in some contracts as well,” said Rathin Basu, Managing Director, Alstom T&D India.
The market continues to be difficult due to lack of new investments from private sector and increasing bank non-performing assets (NPAs) which impact the cash flows from the customers. The announcement of “UDAY” scheme for discoms is positive news which, hopefully, would result in better cash flows and new investments in state T&D networks and eventually in the IPPs in the future, he added.
At 12:27 PM, the stock was down 8% at Rs 388 on the BSE. A combined 106,498 shares changed hands on the BSE and NSE so far.
Net sales of the company during the quarter under review declined by 17.6% at Rs 744 crore against Rs 903 crore in the corresponding quarter of previous fiscal.
“We had a difficult quarter due to delayed sales impacted by Chennai flood and higher material costs/expenses in some contracts as well,” said Rathin Basu, Managing Director, Alstom T&D India.
The market continues to be difficult due to lack of new investments from private sector and increasing bank non-performing assets (NPAs) which impact the cash flows from the customers. The announcement of “UDAY” scheme for discoms is positive news which, hopefully, would result in better cash flows and new investments in state T&D networks and eventually in the IPPs in the future, he added.
At 12:27 PM, the stock was down 8% at Rs 388 on the BSE. A combined 106,498 shares changed hands on the BSE and NSE so far.