Pratibha Industries slips nearly 5% post Q1 net loss of Rs 30 cr

NEW DELHI: Shares of Pratibha Industries slipped as much as 4.8 per cent in morning trade on BSE on Monday after the company reported a consolidated net loss of Rs 30.15 crore for the quarter ended June 30 due to a decline in income.

The infrastructure firm had reported a net profit of Rs 16.45 crore for the same quarter of 2015-16, it said in a regulatory filing to BSE.

At 09:40 am; shares of Pratibha Industries were locked in the lower circuit at Rs 21.45, down 4.8 per cent.

Pratibha Industries, the flagship company of Pratibha group, is engaged in urban infrastructure development. Its total income for the quarter declined to Rs 694.86 crore from Rs 826.11 crore reported for the year-ago period.