Adani Power shares plunge 11.5% on Q3 net loss

Shares of Adani Power today declined 11.5 per cent after the company reported a consolidated net loss of Rs 325.27 crore in the third quarter ended December 31.
The stock crashed 11.48 per cent to settle at Rs 34.30 on BSE. During the day, it tanked 12.38 per cent to Rs 33.95.
On NSE, it dived 11.35 per cent to close at Rs 34.35.
Following the sharp dip in the stock price, the company's market valuation declined by Rs 1,648.55 crore to Rs 11,916.45 crore.
In terms of volume, 43.58 lakh shares of the company were traded on BSE and over 3 crore shares changed hands at NSE during the day.

Adani Power today reported a consolidated net loss of Rs 325.27 crore in the quarter ended December 31, mainly on account of lower plant load factor and higher financial costs.
The group had posted a net profit of Rs 103.87 crore in the year-ago period, the company said in a BSE filing.
According to the statement, the company's total income in quarter under review was Rs 5,872.57 crore as against Rs 6,210.76 crore a year ago.