Shares of JSW Energy today tumbled 8 per cent after the company reported a consolidated net loss of Rs 483.07 crore for the quarter ended March 31.
The stock tanked 7.66 per cent to end at Rs 75.35 on BSE. During the day, it dived 8 per cent to Rs 75.
At NSE, shares of the company plunged 8 per cent to close at Rs 75.25.
In terms of equity volume, 5.52 lakh shares of the company were traded on BSE and over 54 lakh shares changed hands on NSE during the day.
JSW Energy yesterday reported a consolidated net loss of Rs 483.07 crore for the quarter ended March 31, mainly due to provisioning of Rs 418 crore related to a loan.
The company had reported a consolidated net profit of Rs 23.72 crore in the year-ago period.
The said loan was advanced for acquisition of a power plant of Jaiprakash Power Ventures Ltd (JPVL). The deal was however terminated, JSW Energy said in a statement.
Total income during the quarter declined to Rs 1,879.01 crore from Rs 1,935.29 crore in the year-ago period.
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