Alstom India stock down nearly 5% as net profit dips
Shares of Alstom India today fell by nearly 5 per cent after the company reported about 62 per cent drop in net profit for the quarter ended March 31, 2016. The stock declined 4.91 per cent to Rs 580.40 on BSE. On NSE, it fell by 4.74 per cent to Rs 582.
Alstom India yesterday reported about 62 per cent drop in its net profit to Rs 27.40 crore for the fourth quarter ended March 31, 2015-16. The company's net profit stood at Rs 71.93 crore in the same quarter a year ago. Total income from operations came down to Rs 373.25 crore in the quarter under review from 808.35 crore in the same period last year. The company's board has not recommended any dividend on paid up equity share capital for the financial year ended March 31, 2016, it said. It reported a net loss of Rs 79.02 crore for the entire financial year 2015-16 whereas it earned a profit of Rs 178.88 crore in the previous fiscal. Its total income from operations came down to Rs 1,727.27 crore last fiscal ended March 31, from Rs 2,124.29 crore in the previous fiscal.