TRF shares crash by 28 per cent

Shares of TRF, a Tata group company, have crashed 28 per cent in the last two trading sessions as investors were disappointed in the company’s March 15 ending quarter and year results announced after several delays.

The losses widened during the quarter and full year.

Investors are miffed with the management as it has failed to give reasons for the delays in results announcement, the accounting treatment of certain costs and the sharp losses.

In response to an ET query, a TRF spokesperson said, “Results were delayed because certain cost pertaining to Q4 FY14 was missed out and was accounted for in FY15.” The company said that it was pure omission of the cost which got accounted in FY15, but did not share any more details.