In a BSE filing late Thursday, the Naresh Goyal-run airline said the board of directors has decided not to review the unaudited financial performance for the June quarter.
The company's market valuation fell by Rs 2.87 billion to Rs 31.39 billion on the BSE.
In terms of equity volume, 2.230 million shares of the company were traded on the BSE and over 20 million shares changed hands on the NSE during the day.
The company's stock has been on a downtrend for the sixth straight session, plunging 16.5 per cent.
The stock has fallen by nearly 67 per cent so far this year.
"The audit committee did not recommend financial results to the board for its approval, pending closure of certain matters," the airline had said in the regulatory filing without offering more details.
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