You are here: Home » Markets » News
Business Standard

Amtek Auto shares tank 6.5% on weak June quarter earnings

The scrip tanked 6.46 per cent to Rs 41.25 on BSE

Topics
Amtek Auto

Press Trust of India  |  New Delhi 

Amtek Auto shares tank 6.5% on weak June quarter earnings

Shares of auto components maker on Wednesday plunged almost 6.5 per cent after it reported a net loss of Rs 319.68 crore for the quarter ended June 30, 2016, hit by decline in sales.

The scrip tanked 6.46 per cent to Rs 41.25 on BSE.

At NSE, shares of the company dropped 6.46 per cent to Rs 41.20.

Later, the stock made some recovery and was trading 1.81 per cent lower at Rs 43.30 on BSE.

The company had reported a net loss of Rs 157.6 crore during the same period of previous fiscal.

Net sales of the company also declined to Rs 539.83 crore for the June quarter as against Rs 854.22 crore in the same period of the previous fiscal, said in a regulatory filing.

In the stock market, the Sensex was trading flat at 28,358.46, up 4.92 points at 1240 hrs.

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Wed, September 14 2016. 13:07 IST
RECOMMENDED FOR YOU
.