Shares of Alstom T&D India today plunged 6.5 per cent after the company's standalone net profit fell by 44 per cent for the March quarter.
The stock dropped 6.33 per cent to settle at Rs 354.20 on BSE. During the day, it declined 7.41 per cent to Rs 350.10.
On NSE, the scrip slumped 6.45 per cent to close at Rs 354.10.
The company's market valuation fell by Rs 612.83 crore to Rs 9,069.17 crore.
Alstom T&D India's standalone net profit fell by over 44 per cent to Rs 29.87 crore in the quarter ended on March 31, 2016.
The company had posted a net profit of Rs 54.03 crore for the quarter ended March 31, 2015.
Total income has decreased from Rs 1,368.35 crore for the quarter ended March 31, 2015, to Rs 977.93 crore for the quarter ended March 31, 2016, Alstom T&D India had said in a BSE filing yesterday.
The company posted a standalone net profit of Rs 77.51 crore for the year ended March 31, 2016 as compared to Rs 120.57 crore for the year ended March 31, 2015.
Total income decreased from Rs 3,722.10 crore for the year ended March 31, 2015, to Rs 3,450.31 crore for the year ended March 31, 2016.
