Amtek Auto Plunges 7% After Loss Widens In Q2
Amtek Auto shares plunged nearly 7 per cent to an intraday low of Rs 35.15 on Wednesday, after its net loss widened in the September quarter.
New Delhi-based Amtek Auto on Tuesday after market hours reported a standalone net loss of Rs 755 crore for the fiscal second quarter that ended on September 30, 2016, as against Rs 159 crore for the corresponding three-month period a year ago.
The automotive component manufacturer's total income nearly halved to Rs 499 crore in the September quarter, from Rs 834 crore a year ago.
At 10:49 a.m., Amtek Auto shares were trading 3.32 per cent lower at Rs 36.45 apiece on the NSE, compared to 0.29 per cent decline in the broader Nifty.
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