Areva T&D slides on decline in Q2 net

Areva T&D is trading lower by 2.2% at Rs 224 on the Bombay Stock Exchange (BSE) post announcement of its second quarter results.

India's leading electricity transmission and distribution company reported a fall of 18.5% in its second quarter net profit at Rs 26.26 crore compared to Rs 32.24 crore during the same quarter of the previous fiscal. The total income grew 12.8% to Rs 999 crore from Rs 885 crore on a y-o-y basis.

The stock opened at Rs 226 and touched a high of Rs 228 in intra-day deals. A combined 15,000 shares have changed hands on the counter compared to its two-week average of 19,000 shares till 1030 hours.