Shri Sipan Kumar Garg, CMD & Director (Finance), THDC India Limited congratulated the entire THDCIL team and stated that the credit rating upgrade reflects the Company’s strengthening financial progress and disciplined strategic execution.
The earlier ratings were CARE BB Plus with Negative Outlook.
It had posted consolidated net profit of Rs 36.68 crore in the year-ago period, CARE Ratings said in a filing to BSE.
On the NSE, shares of the company plunged 15 per cent to close at Rs 45.15.
Even the Employees Provident Fund Organisation (EPFO), sources said, could pull back from NBFC investments to avoid default risks.
