Tulip Telecom extends last week's fall on reporting Q4 loss

The company reported a consolidated net loss of Rs 656.59 crore for the quarter ended March 31, 2013.

Enterprise data services provider Tulip Telecom slumped 5%, extending Friday's fall after company reported a consolidated net loss of Rs 656.59 crore for the quarter ended March 31, 2013.

The company had reported a net profit of Rs 66.03 crore in the corresponding quarter last fiscal, Tulip Telecom said in a filing to the BSE.

Total income of the company also declined over 36% to Rs 417.54 crore for the reported quarter compared to Rs 661.66 crore last year.

The company has around Rs 3,346.79 crore liabilities (long-term and short-term) as on March 31, 2013.

The company has also defaulted to repay the Foreign Currency Convertible Bonds (FCCBs), which resulted in downgrade of the company's credit rating, it said.
 

Shares of the company fell 4.9% to Rs 12.17 apiece on the BSE.