Videocon Industries has dipped 5% to Rs 177 on opening trades after reporting 47% year-on-year (y-o-y) drop in net profit at Rs 86 crore for the quarter ended December 2011 due to loser sales income and higher interest cost.
“Income from operations declined by 2.5% at Rs 3,073 crore, while interest burden increased by 54% at Rs 299 crore on y-o-y basis during the recently concluded quarter,” the company said in a filing to the stock exchanges.
A combined around 15,000 shares have changed hands on the counter on opening deals on both the exchanges.