Raw material costs stood at 57.7% of the consolidated revenues-higher than the year-ago level of 56.5%. Other expenses, too, climbed to make up 16.2% of the revenues-much higher than the y-o-y level of 14.8%. These increased expenses, and a less favourable product mix, dented profitability.
Warning Signal? FIIs cut stake in 11 smallcap stocks in the last 3 quarters; prices crash up to 70%
Reliance Power’s shares declined as the Enforcement Directorate filed a chargesheet in a fake bank guarantee case, weighing on investor sentiment and drawing renewed attention