CG Power tanks 15% as net loss widens in December quarter

The stock dipped 15% to Rs 28.60, also its 52-week low on the BSE, after reported a consolidated net loss of Rs 150 crore in December quarter against Rs 28 crore in a year ago quarter.

Shares of CG Power and Industrial Solutions have declined 15 per cent to Rs 28.60 apiece, also their 52-week low on the BSE, after the company reported a consolidated net loss of Rs 150 crore in December 2018 quarter (Q3FY19). The performance impacted mainly on account of an exceptional loss of Rs 117 crore.

The Gautam Thapar-led Avantha Group company had posted a loss of Rs 28 crore in the year-ago quarter.

Operational revenue during the quarter under review grew 12 per cent at Rs 1,720 crore against Rs 1,537 crore in the corresponding quarter of previous fiscal.  Ebitda (earnings before