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Punj Lloyd shares slump nearly 14% on Q2 loss

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Mumbai: Engineering conglomerate Punj Lloyd’s scrip has plunged nearly 14% as the company reported widening of net loss to Rs 283.20 crore for the July-September quarter due to decline in income.

Shares of the company slumped 13.68% to Rs 21.45 on BSE.

It had reported a net loss of Rs 263.51 crore for the second quarter of the previous fiscal.

Total income from operations dipped 20.37% to Rs 1,008.89 crore during the quarter under review from Rs 1,267.01 crore in the same quarter of the last fiscal, the company had said in a regulatory filing on Friday.

Total expenses for the period stood at Rs 1,141.35 crore against Rs 1,464.03 crore in the second quarter of the previous fiscal.

Punj Lloyd Group offers EPC services in energy and infrastructure along with engineering and manufacturing capabilities in the defence sector.

PTI