RPower shares end over 8 pc down post Q4 results; other group stocks tumble too

Reliance Power stock recovered most of its sharp early losses and settled over 8 per cent lower Monday as the company reported a loss of Rs 3,558.51 crore for the quarter ended March 31.

After plunging 23.66 per cent to Rs 4.71 -- its 52-week low -- in intra-day trade on the BSE, shares of the company finally closed at Rs 5.75, down 6.81 per cent.

At the NSE, shares dropped 8.13 per cent to close at Rs 5.65.

The Anil Ambani Group firm Sunday reported a loss of Rs 3,558.51 crore for the quarter ended March 31, 2019 as against a profit of Rs 189.21 crore in the year-ago period.

In a filing to the BSE, Reliance Power said the board in its meeting on June 8 approved the audited financial results for the quarter and financial year ended March 2019, and also approved raising resources by issuing debt securities by way of privately placed debentures, subject to approvals.

For full fiscal, Reliance Power reported a net loss of Rs 2,951.82 crore as against a net profit Rs 840.46 crore in 2017-18.

Selling was also seen in other group shares, with Reliance Infrastructure tumbling 13.24 per cent, Reliance Naval and Engineering plunging 10.10 per cent and Reliance Capital 8.85 per cent on the BSE.