Alstom India stock falls by nearly 5% as Q4 net profit declines

Shares of Alstom India on Tuesday fell by nearly 5% after the company reported about 62% drop in net profit for the quarter ended March 31, 2016.

The stock declined 4.91% to Rs 580.40 on the Bombay Stock Exchange (BSE).

On the National Stock Exchange (NSE), it fell by 4.74% to Rs 582.

Alstom India on Monday reported about 62% drop in its net profit to Rs 27.40 crore for the fourth quarter (Q4) ended March 31, 2016.

The company's net profit stood at Rs 71.93 crore in the same quarter a year ago.

The company's total income from operations came down to Rs 373.25 crore in the quarter under review from Rs 808.35 crore in the same period last year.

The company's board has not recommended any dividend on paid-up equity share capital for the financial year ended March 31, 2016, it said.

It reported a net loss of Rs 79.02 crore for the entire financial year 2015-16 whereas it earned a profit of Rs 178.88 crore in the previous fiscal.

Its total income from operations came down to Rs 1,727.27 crore last fiscal ended March 31, from Rs 2,124.29 crore in the previous fiscal.

At 12:38 hours, the shares of Alstom India were trading down 1.54% or Rs 9.40 at Rs 601.00 per scrip on the BSE.