Goa Carbons shares plunge 7% as Q3 net loss widens

NEW DELHI: Shares of Goa Carbons declined as much as 7 per cent intraday after the net loss of the company widened to Rs 1.09 crore for the quarter ended December 31, 2016 against Rs 0.90 crore in the corresponding quarter last year.

Net sales of the company declined 19.91 per cent on a year-on-year basis to Rs 71.89 crore during the quarter under review against Rs 89.77 crore in the same quarter a year ago.

Shares of the company were trading 6.23 per cent down at Rs 118.10 around 12.11 pm (IST). The scrip opened the day at Rs 127.55 and touched a high and low of Rs 129.50 and Rs 116.60, respectively, in trade so far. Benchmark BSE Sensex was trading 12.62 points, or 0.05 per cent, down at 27,234.54 around the same time.

For Oct-Dec period, the company registered 21 per cent fall in total expenditure to Rs 70.80 crore against Rs 90 crore in the same period last year.