Videocon Q4 net loss widens to Rs 547.73 crore

Videocon Industries today reported a standalone net loss of Rs 547.73 crore for the fourth quarter ended March 31.
The company had reported a net loss of Rs 189.59 crore in the same period a year ago, Videocon Industries said in a BSE filing.
The company's total income during the quarter under review declined to Rs 2,071.28 crore, down 31.90 per cent, as against Rs 3,041.96 crore in the same period last fiscal.
Shares of Videocon Industries continued to remain under pressure, plunging almost 53 per cent in five trading sessions amid reports of loan repayment worries.
In a BSE filing on Tuesday, the company said: "We would like to submit that Dena Bank has recently announced that it had classified Videocon's loan amounting to Rs 520 crore as non performing assets.

"This has resulted in some negative publicity of the company and, accordingly, impacted its stock price. We believe that the recent crash on the stock price of the company could be due to the said classification of Videocon's loan as NPA by Dena Bank."
Videocon said it was not aware of any other information which could explain the movement in the trading, it added.
Shares of Videocon Industries today closed 9.99 cent lower at Rs 47.30 on BSE.