Shares of Punj Lloyd slipped 7.5 percent intraday on Monday after it posted disappointing September. The engineering and construction major reported a net loss of 263.51 crore for the second quarter ended September 30.
The company had reported a net profit of Rs 1.60 crore in the corresponding quarter of previous fiscal.
Total income from operations of the company during the July-September period declined to Rs 1,273.25 crore compared to Rs 2,222.44 crore in the corresponding quarter of last financial year. Total expenses of the company came down to Rs 1,468.44 crore as against Rs 2,038.80 crore in the same quarter last fiscal.
Commenting on the results, the company's Chairman Atul Punj said, "While the performance reflects the impact of insufficient order wins in the previous two financial years, there is a positive improvement compared to the previous quarter."
"This will further improve the order wins in the current year till date and the expected order inflows in the near future," he added.
At 14:40 hrs Punj Lloyd was quoting at Rs 38.50, down Rs 2.05, or 5.06 percent on the BSE.
(With inputs from PTI)
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