Alstom T&D slumps on poor Q3
By
Research Desk
about 9 years ago
Alstom T&D had hit a new high on 27th at Rs.563.90 in anticipation of its Q3FY15 numbers, which were to be announced yesterday. And the numbers came in after market hours and they were disappointing to say the least.
A market leader in power transmission segment in India, the performance reflects the poor state of the power sector. The company’s net profit in current Q3 tanked to Rs.2.6 crore from Rs.35 crore in previous Q3 and Rs.19 crore in preceding Q2. Beginning with a decline in topline the overall performance thus fell weak.
The stock price is currently down over 7.5% at Rs.499 and this is after hitting an intra day low at Rs.485.