Shares of Jindal Steel and Power Ltd (JSPL) today tumbled nearly 9 per cent following the company reporting a consolidated net loss of Rs 519.30 crore for the quarter ended March 31, 2015.
The stock fell sharply by 8.31 per cent to end at Rs 118.55 on the BSE. During the day, it plunged 8.66 per cent to Rs 118.10 -- its 52-week low.
On the NSE, it dropped 8.83 per cent to close the day at Rs 118.15.
Following the dip in the stock, the company's market value slumped Rs 982.82 crore to Rs 10,846.18 crore.
Jindal Steel and Power Ltd (JSPL) yesterday reported a consolidated net loss of Rs 519.30 crore for the quarter ended March 31, 2015 due to subdued demand and cheaper imports of the metal.
The firm had posted a net profit of Rs 402.50 crore in the year-ago period, it had said in a BSE filing.
Consolidated total income also fell by 7.6 per cent to Rs 4,525.59 crore in January-March quarter of last fiscal from Rs 4,898.48 crore in the same quarter of 2013-14.
For the entire 2014-15 fiscal, JSPL's consolidated net loss stood at Rs 1,278.12 crore as against a net profit of Rs 1,910.36 crore.
