Amtek Auto shares plunge over 6% on September quarter net loss

Mumbai: Shares of Amtek Auto fell over 6 percent Monday as the auto component maker suffered a consolidated net loss of Rs 987 crore for the year ended September against a net profit of Rs 848.21 crore last year.

The stock plunged 5.62 percent to Rs 40.30 on BSE.

At NSE, shares of the company slipped 6.43 percent to Rs 40.

The company's total income stood at Rs 15,213.4 crore, from Rs 15,706.6 crore a year ago, Amtek Auto had said in a BSE filing on Saturday.

For the quarter ended September, the firm reported a standalone net loss of Rs 158.62 crore as against a net profit of Rs 74.37 crore in the same period of the previous fiscal.

Total income has narrowed to Rs 833.8 crore for the quarter under review, from Rs 1,042.1 crore a year earlier.

Amtek Auto follows October-September financial year.

The Delhi-based company had defaulted on repayment of bonds worth Rs 800 crore in September, thus signaling a crisis.