Punj Lloyd plummets over 12% at close as Q1 net loss widens

Shares of engineering conglomerate Punj Lloyd ended the day over 12 per cent lower after the company reported widening of net loss to Rs 597.84 crore for the April-June quarter.
After plunging 16.64 per cent to Rs 26.30 in intra-day trade, shares of the company finally ended at Rs 27.70, down 12.20 per cent on the BSE.
At NSE, the stock plummeted 11.86 per cent to settle at Rs 27.85.
In terms of volume, 25.65 lakh shares of the company changed hands at the BSE and over 73 lakh shares were traded at the NSE during the day.
The company had reported a net loss of Rs 363.92 crore for the first quarter of the previous fiscal.

Its total income from operations dipped sharply 40.98 per cent to Rs 657.35 crore during the quarter under review, from Rs 1,113.83 crore in the same quarter of the last fiscal, the company had said in a BSE filing on Friday.
Total expenses for the period stood at Rs 1,050.58 crore during the quarter against Rs 1,445.58 crore a year ago.
The Punj Lloyd Group offers EPC services in energy and infrastructure along with engineering and manufacturing capabilities in the defence sector.