Vakrangee on Tuesday reported a sharp 98.97 per cent year-on-year fall in consolidated net profit at Rs 1.94 crore for the quarter ended September.
It had posted a net profit of Rs 189.80 crore in the same quarter last year.
Total income declined to Rs 320.06 crore in Q2 FY19 over Rs 1,554.65 crore in the same period last year.
Total expenses came down to Rs 314.68 crore during the quarter under review as against Rs 1,266.78 crore in Q2 FY18.
Earlier during the day, share price of the company closed 4.04 per cent down at Rs 27.35 while the BSE Sensex ended 0.52 per cent down at 33,891.13.
Earnings per share (EPS) declined to Rs 0.02 in the September quarter from Rs 1.80 in the same period last year.
Cash and cash equivalent of Vakrangee stood at Rs 89.52 crore for the quarter ended September against Rs 732.89 crore a year earlier.