Shares of CG Power and Industrial Solutions slump 30% after Q3 net loss

Operational revenue during the quarter under review grew 12 per cent to Rs 1,720 crore, as against Rs 1,537 crore in the corresponding quarter of the previous fiscal

Shares of CG Power and Industrial Solutions ended nearly 30 per cent lower on Wednesday at Rs 23.75 on the BSE, after the company reported a consolidated net loss of Rs 150 crore in the December 2018 quarter. 

The counter hit its 52-week low of Rs 23 on the BSE in intra-day trade before recovering partially. The Sensex, on the other hand, slipped 0.3 per cent to 36,034.

The performance in the recently concluded quarter was impacted mainly on account of an exceptional loss of Rs 117 crore. 

The Gautam Thapar-led Avantha Group company had reported a loss of Rs