Shares of Punj Lloyd fell nearly 12 per cent on Bombay Stock Exchange (BSE) a day after the company reported widening of its net loss to Rs 597.84 crore for the April-June quarter on sharp decline in income. It had reported a net loss of Rs 363.92 crore for the first quarter of the previous fiscal. Its total income from operations dipped sharply by 40.98 per cent to Rs 657.35 crore during the quarter under review, from Rs 1,113.83 crore in the same quarter of the last fiscal, the company said in a BSE filing.
Reacting to the news, shares of company dropped 11.89 per cent in intra-day trade to Rs 27.80 apiece on the BSE.
In a similar trend, shares of the company dipped 11.87 per cent to Rs 27.85 a piece on National Stock Exchange.
Meanwhile, the broader benchmark BSE Sensex was trading at 27,648.77, up 136.51 points, or 0.50 per cent at 11.25 hours.