IVRCL Infra slumped to a record low after its q1 losses increased

Shares of construction firm IVRCL Infra slumped to a fresh record low after the company's quarterly loss increased on the back of a drop in sales.

IVRCL said its first quarter loss surged 18 percent to 187.2 crore rupees compared with 157.9 crore rupees in the same quarter a year ago. Sales during April-June dropped 25 percent to 620.3 crore rupees versus 833.5 crore rupees.

IVRCL plunged 5 percent to 10.50 rupees on the National Stock Exchange where 16.5 lakh shares were traded versus a 5-day average of 7.91 lakh shares.

The company's market capitalisation has slumped 43 percent to 527 crore rupees over the past one year. The stock trades at 0.5 times its book value of 20.2 rupees.

(Image credits: Indiatimes)