Shares of Pantaloons Fashion & Retail Ltd today slumped 11 per cent after the company reported a net loss of Rs 78.09 crore in the first quarter ended on June 30.
Pantaloons' stock plunged 11 per cent to close the day at Rs 112.05 on the BSE. During the day, it lost 12.54 per cent to Rs 110.10.
At the NSE, the scrip ended 10.25 per cent lower at Rs 112.50.
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Led by the dip in the stock, the company's market value slipped Rs 128.25 crore to Rs 1,039.75 crore.
Aditya-Birla group firm Pantaloons Fashion & Retail Ltd had yesterday reported net loss of Rs 78.09 crore in the first quarter ended on June 30, mainly due to higher depreciation and amortisation expenses.
It had reported net loss of Rs 57.82 crore in the April- June quarter of 2013-14 fiscal, the company had said in a filing to the BSE.
Depreciation and amortisation expense in the quarter under review were at Rs 45.55 crore as against Rs 16.75 crore in the corresponding quarter a year ago.
Pantaloons' Q1 net sales went up by 13.46 per cent to Rs 381.3 crore as against Rs 336.04 crore in the same quarter a year ago.
