Shares of Coffee Day Enterprises plunged in trade today by as much as 5% after the company due to probe of its accounts has deferred the announcement of its second quarter and half-yearly earnings. In accordance with the filing with the exchanges, the probe action will take some more weeks for completing.
Coffee Day Enterprises Plunge After Company Defers Earning Results
At the same time, Sanjay Nayar has quit the board of Coffee Day Enterprises and his resignation has been accepted by the board yesterday.
In the previous quarter, the company reported a net profit to the tune of Rs. 1509 crore as it made a one-time gain of Rs. 1659 crore from stake sale in Mindtree.
The company's debt has accumulated to Rs. 4970 as per the regulatory filing on August 17
The stock pared its early losses and was last seen trading at Rs. 42.50 versus previous session's close of Rs. 43.30 on the BSE.
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