The financial result of Areva T&D have nose-dived during the first quarter of this fiscal year. The net profit of the power transformer maker went down by as much as 93 per cent during the period.

The profit of the company ended at Rs. 3.47 crore. And its sales were Rs. 776.84 crore for the same quarter. This means that it went down by more than 93 per cent over the same period in the last year.

Areva declared its results after the market closed on Friday, April 23. But even after that the shares could not be stopped from tumbling. As a result of the result declaration, the shares of the company went down drastically and went into the negative zone.

In the morning trades, the share lost 2.5 per cent and reached Rs. 275 on the BSE. This is bad considering the 52-week high of Rs. 386 during June 12,2009. The lowest level for the stock was Rs. 199.05 during April 28, 2009.

What is worrying is that stock has underperformed for the past one month. As compared to the Sensex rising 1.39 per cent, it went down by 7.89 per cent.