GE Power stock plunges to new 52-week low owing to dismaying Q3 FY'22 results; reports Net Loss of Rs34.57cr

10 Feb 2022 , 11:11 AM

GE Power India Ltd.’s stock tanked 20% to new 52-week low of Rs190.50 in Thursday post its unsatisfactory Q3 results in the quarter and 9M ended December 2021. The company’s stock froze on the new lows.

The company reported a total income of Rs798.30cr for Q3 FY’22 as against Rs1131.21cr for Q3 FY’21, reporting a downfall of 29.93% yoy. Its total income for the 9M period ended December 2021 was reported at Rs2,139.83cr as against Rs2,503.59cr for the previous 9M period, reporting a decline of 14.53% yoy.

The company reported a net loss of Rs34.57cr for the December 2021 quarter, as against a profit of Rs31.74cr for the previous corresponding quarter. Whilst company reported a net loss of Rs111.12cr for 9M ended Q3 FY’22 as against a profit of Rs51.26cr for the same period last year.

The company’s net loss before tax for the quarter ended December 2021 stood at Rs46.23cr as against a profit of Rs42.98cr for the corresponding quarter. PBT for the 9M ended December 2021 stood at Rs148.08cr as against a profit of Rs70.94cr for the corresponding 9M period.

The company’s EPS narrowed in the quarter at Rs -5.14 against Rs 5.70 in the previous corresponding quarter.