Pantaloons Fashion & Retail tanks post June quarter results

Pantaloons Fashion & Retail is trading nearly 9% lower in morning deals at Rs 114.75 levels on the Bombay Stock Exchange (BSE), after the company reported 35% fall in its standalone net profit for the quarter ended June 2014.

For the recently concluded quarter, the company eported a net loss of Rs 78 crore versus loss of Rs 57.8 crore in the previous corresponding period. Net sales came in at Rs 381.3 crore versus Rs 336 crore (y-o-y).

The stock opened at Rs 116 and touched a high of Rs 119 in trades thus far. Around 15,000 shares have already changed hands on the counter.