Videocon Industries Q1 profit down 70%

Videocon Industries reported a dip in net profit at Rs 50.32 crore for the quarter.

Written by Agencies | Mumbai | Published: May 16, 2012 8:16 pm

Diversified business group Videocon Industries today reported 69.81 per cent dip in standalone net profit at Rs 50.32 crore for the quarter ended March 31,2012.

The company had posted a net profit of Rs 166.69 crore in the same period of previous fiscal,Videocon Industries said in a filing to the BSE.

The total standalone total income from operations stood at Rs 2,996.31 crore for the quarter against Rs 3,115.76 crore in the year-ago period,down 3.83 per cent.

The company had said yesterday that it will raise USD 51.02 million (over Rs 270 crore) through issue of securities on a private placement basis from overseas market.

Shares of Videocon Industries today closed at Rs 171.25 apiece on the BSE,up 0.62 per cent from its previous close.

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