DHFL stock plummet 30%c after Q4 loss; company's market valuation falls by Rs 626 cr to Rs 1,522 cr on BSE
DHFL said the developments in the last few quarters threaten its ability to continue as a going concern, as the company posted biggest ever quarterly loss of Rs 2,224 crore for the fourth quarter of 2018-19.
During the day, the DHFL scrip tumbled 31.77% to Rs 46.70 — its 52-week low
On the traded volume front, 68.04 lakh shares were traded on the BSE and over seven crore shares on the NSE during the day
The company posted the biggest ever quarterly loss of Rs 2,224 crore for the fourth quarter of 2018-19
New Delhi: DHFL stock plummeted nearly 30 percent on Monday after the company posted the biggest-ever quarterly loss of Rs 2,224 crore for the fourth quarter ended 31 March.
The scrip of Dewan Housing Finance Corporation Limited (DHFL) plunged 29.15 percent to close at Rs 48.50 on the BSE. During the day, it tumbled 31.77 percent to Rs 46.70 — its 52-week low.
At the NSE, shares cracked 29.78 percent to close at Rs 48.10.
On the traded volume front, 68.04 lakh shares were traded on the BSE and over seven crore shares on the NSE during the day.
The company's market valuation also fell by Rs 625.96 crore to Rs 1,522.04 crore on the BSE.
Housing finance firm DHFL has said the developments in last few quarters threaten its ability to continue as a going concern, as the company posted the biggest ever quarterly loss of Rs 2,224 crore for the fourth quarter of 2018-19.
The debt-ridden company had reported a profit of Rs 134.35 crore in the same quarter previous fiscal.
"In the backdrop of a significant slowdown in disbursement and loan growth post-September 2018, the financials of the company have been quite strained for the quarter impacting the overall performance of the year," the company said in a late evening regulatory filing on Saturday.
It further said the company is undergoing substantial financial stress since the second half of the last financial year.
"The company's ability to raise funds has been substantially impaired and the business has been brought to a standstill with there being minimal/virtually no disbursements. These developments may raise a significant doubt on the ability of the company to continue as a going concern," it said.
Find latest and upcoming tech gadgets online on Tech2 Gadgets. Get technology news, gadgets reviews & ratings. Popular gadgets including laptop, tablet and mobile specifications, features, prices, comparison.
TSBIE said that a total of 37,387 students had applied for re-verification and 72,496 for re-counting. The process of re-verification and recounting started on 10 July
Odisha 10th result 2020 DECLARED: Alternative websites to check BSE Class 10 results if bseodisha.nic.in is down
Odisha 10th result 2020 DECLARED | Students can access the Odisha Board of Secondary Education Class 10 results on examresults,net and indiaresults.com if official website is slow
Odisha Matric Result 2020 DECLARED | BSE declared the results today at 10 am on the official website bse.odisha.nic.in