Adani Power falls on higher-than-expected Q2 loss
19th October 2012 04:18 PM
Adani Power, a subsidiary of Adani Enterprises and part of Adani Group, down on Friday after it has reported loss for the second quarter,which came above market expectations.
The company reported a consolidated net loss of Rs 2.60 billion for the quarter ended Sept. 30, 2012 as compared to net profit of Rs 1.72 billion in the same period last year. This was mainly due to higher imported coal prices and non availability of transmission line.
Total consolidated income has increased 36.32% from Rs 11.02 billion for the quarter ended Sept. 30, 2011 to Rs 15.02 billion for the quarter ended Sept. 30, 2012.
Shares ofthe companyare trading at Rs 48.80, down Rs 1.35, or 2.69% at the Bombay Stock Exchange (BSE) on Friday at 2:41 p.m.The scrip has touched an intra-day high of Rs 50.75 and low of Rs 48.55. The total volume of shares traded at the BSE is 861,162.In the earlier session, the shares climbed 2.03%, or Rs 1, at Rs 50.15. Currently, the stock is trading down 49.53% from its 52-week high of Rs 96.70 and above 32.61% over the 52-week low of Rs 36.80.Share Price Movement Period Pricein Rs Gain/(Loss) in Rs in % 1 Week 50.50 (0.35) (0.69) 1 Month 46.10 4.05 8.79 3 Months 45.45 4.70 10.34 6 Months 69.20 (19.05) (27.53) 1 Year 85.70 (35.55) (41.48) Note: Based on previous day closing price.
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