GVK Power & Infra tumbles after rise in net loss in Q4

GVK Power & Infrastructure tumbled 6.12% to Rs 5.22 at 10:25 IST on BSE after the company reported net loss of Rs 205.85 crore in Q4 March 2017 higher than net loss of Rs 105.59 crore in Q4 March 2016.

The result was announced after market hours yesterday, 24 May 2017.

The stock has slumped 17.4% in seven sessions to its ruling price of Rs 5.22 from a close of Rs 6.32 on 16 May 2017.

Meanwhile, the S&P Sensex was up 170.12 points, or 0.56% at 30,471.76. The S&P BSE Small-Cap index was up 138.24 points or 0.95% at 14,694.81.

On the BSE, 3.94 lakh shares were traded on the counter so far as against the average daily volumes of 6.63 lakh shares in the past two weeks. The stock had hit a high of Rs 5.42 and a low of Rs 5.05 so far during the day.

The stock had hit a 52-week high of Rs 7.70 on 14 February 2017 and a record low of Rs 4.13 on 6 June 2016. The stock had underperformed the market over the past one month till 24 May 2017, falling 13.53% compared with 2.18% rise in the Sensex. The scrip had also underperformed the market in past one quarter, dropping 14.06% as against Sensex's 4.88% rise.

The small-cap company has equity capital of Rs 157.92 crore. Face value per share is Re 1.

GVK Power & Infrastructure's total income rose 49.85% to Rs 25.85 crore in Q4 March 2017 over Q4 March 2016.

GVK is a leading Indian conglomerate with diversified interests across various sectors including energy, resources, airports, transportation, hospitality and life sciences.

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