Diamond Power Infrastructure Q3 loss widens to Rs 213 cr

Diamond Power Infrastructure today reported consolidated net loss of Rs 213.23 crore for the quarter ended December 31, 2016.
The company had reported a consolidated net loss of the Rs 53.01 crore in the corresponding period of 2015, it said in a BSE filing today.
According to the statement, the company's income from operations declined to Rs 252.08 crore in the third quarter compared to Rs 502.70 crore.
In a seperate filing, it also informed the BSE that its board, at a meeting held today, has approved issuance of 8.09 crore warrants convertible into shares of the company to various strategic investors on preferential basis/Funds/FIIs.

Yesterday, the company had said that its board will consider proposal for the issue of around 5.31 crore warrants amounting to Rs 244.55 crore to CKP Power Finserve Pvt Ltd on preferential basis.