CG power crashes ~30% post Q3 results

Shares touched a 52-week-low of Rs26.65 after the company reported a net loss of Rs150cr for Q3FY19 including a onetime loss of Rs116.6cr

Feb 13, 2019 10:02 IST India Infoline News Service

Shares of CG Power crashed ~30% in intraday trade on Wednesday. Shares touched a 52-week low of Rs26.65 after the company reported a net loss of Rs150cr for Q3FY19 including a onetime loss of Rs116.6cr, as against a loss of Rs28.2cr in Q3FY18.

The adjusted loss was Rs33.6Cr as against adjusted loss of Rs25.6Cr in the same quarter last year. EBITDA rose by 14% and was pegged at Rs148.5cr, while EBITDA margin was at 8.6%.

CG Power And Industrial Solutions Limited, formerly Crompton Greaves Limited, is engaged in the business of power transformers and reactors, low tension motors and switchgears.

CG Power & Industrial Solutions Ltd is currently trading at Rs23.25 down by Rs10.5 or 31.11% from its previous closing of Rs33.75 on the BSE.

The scrip opened at Rs32 and has touched a high and low of Rs33.55 and Rs23 respectively. So far 12,17,28,411 (NSE+BSE) shares were traded on the counter.

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