CG Power slumps after dismal Q3 results

CG Power and Industrial Solutions fell 29.33% to Rs 23.85 at 15:07 IST on BSE after reporting consolidated net loss of Rs 150.18 crore in Q3 December 2018, higher than net loss of Rs 28.23 crore in Q3 December 2017.

The result was announced after market hours yesterday, 12 February 2019.

Meanwhile, the S&P BSE Sensex was down 44.49 points, or 0.12% to 36,109.13.

On the BSE, 70.47 lakh shares were traded in the counter so far compared with average daily volumes of 8.81 lakh shares in the past two weeks. The stock had hit a high of Rs 33.55 so far during the day. The stock had hit a low of Rs 23.80 so far during the day, which is also 52-week low for the counter. The stock hit a 52-week high of Rs 90.65 on 14 February 2018.

The company reported exceptional loss of Rs 116.64 crore in Q3 December 2018.

Consolidated revenue from operations rose 11.9% to Rs 1719.52 crore in Q3 December 2018 over Q3 December 2017.

CG Power and Industrial Solutions provides end-to-end solutions that cover the entire value chain of engineering offerings to serve the electrical needs of its customers. From generation, transmission, distribution and conversion, CG Power and Industrial Solutions' offerings include electrical products, systems and services for utilities, power generation and industries.

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