Alstom T&D slumps on weak Q3 earnings

Shares of Alstom T&D were down over 6% at Rs 507 after the engineering major reported sharp drop in third quarter earnings amid sluggish sales.

Net profit for the quarter ended December 2014 slumped 86% to Rs 2.6 crore compared with Rs 19 crore in the same quarter last fiscal.

Net sales during the quarter also declined to Rs 763 crore compared with Rs 847 crore in the quarter ended December 2013.

The stock opened at Rs 498 and touched a low of Rs 485 on the BSE. At 9:25AM, over 38,000 shares were traded on both the stock exchanges.