The stock dropped 7.35 per cent to Rs 54.80 on BSE.
At NSE, shares of the company declined 6.93 per cent to Rs 55.
In terms of volume, 1.36 lakh shares of the company were traded on BSE and over 5 lakh shares changed hands at NSE during the morning trade.
The state-run mining and metal firm had reported a net profit of Rs 20.88 crore in the year-ago period.
Total income for the January-March period stood at Rs 2,545.37 crore, higher than the Rs 1,994.68 crore in the corresponding period of last year.
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