Hyderabad-based publisher of English daily Deccan Chronicle Holdings (DCHL) has been under severe selling pressure, down 22 percent in the last five trading sessions. Today the shares were locked at 5 percent lower circuit.
Deccan posted a loss of Rs 100 crore for the quarter ended September 30, 2012 against a profit Rs 21.09 crore during the corresponding quarter last year. The promoters’ stake in the company has been reduced to 38.40 percent from 73.83 percent, as on September 30, 2012.
"Promoters of the company have offered their shares as collateral security to some of the lenders for their financial assistance provided to the company and some of them have invoked the pledge and appropriated the same against the dues payable to them. Promoters have contested the invocation and appropriation of the pledge by the lenders," the company said in a press release.
Total income from operations fell drastically to Rs 149.16 crore in the July-September quarter from Rs 238.24 crore in corresponding quarter of previous fiscal. During the same period, finance cost jumped 4.66 times year-on-year to Rs 81.23 crore.
Shares crashed 90 percent in last one year as the company has been facing financial crisis. The stock was quoting at Rs 5.57 at 12:39 hours IST.
There were pending sell orders of 836,551 shares, with no buyers available. Market capitalisation of the company currently stands at Rs 116.40 crore. Also Read
Cairn up 3% in early trade on Q3 nos but loses some shine
Here's what to expect from HUL Q3 earnings
Dish TV Q3: Analysts expect net loss at Rs 20.6 cr
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
