Alstom India weakens after Q1 net drops 47%

Net profit for Apr-Jun 2015 was down 47% at Rs 8,05 crore compared with Rs 14.99 crore in Apr-Jun 2014

Image
SI Reporter Mumbai
Last Updated : Jul 23 2015 | 12:42 PM IST
Shares of Alstom India were down nearly 3% at Rs 800 on the Bombay Stock Exchange after the company reported 47% drop in net profit at Rs 8.05 crore for the quarter ended June 30, 2015 compared with Rs 14.99 crore in the same quarter last fiscal.

Net sales for the quarter under review declined 9% to Rs 425 crore compared with Rs 469 crore in the quarter ended June 30, 2014.

The proposed Joint venture of ALSTOM India Limited and Alstom Transport S.A. (“ATSA”) has been issued a Letter of Acceptance by Dedicated Freight Corridor Corporation of India Limited for an accepted contract amount of approximately Rs. 1,497 crore, the company said in a release.

The stock opened at Rs 800 and touched a low of Rs 788. At 12:35PM, over 100,000 shares were traded on both the stock exchanges.
*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Jul 23 2015 | 12:37 PM IST

Next Story