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Jaypee Infratech Q3 net down 34.75 per cent at Rs 101.18 crore

Jaypee Infratech on Monday reported a 34.75 per cent decline in net profit at Rs 101.18 crore for the third quarter that ended in December 2013, largely due to a rise in costs.

The Jaypee Group firm, which runs the Yamuna expressway project linking the national capital to Agra via Noida and Greater Noida, had reported a net profit of Rs 155 crore in the corresponding quarter of the previous fiscal year (FY13).

Net sales of the company rose nearly 6 per cent to Rs 987.80 crore during the quarter from Rs 933.13 crore in the third quarter of FY13, it said in a filing to the BSE.

Total expenditure stood at Rs 633.73 crore, amounting to 64.16 per cent of the net sales. During the third quarter of 2012-13, expenditure was 55.31 per cent of the net sales.

Finance costs stood at Rs 226.47 crore, while tax outgo was Rs 26.84 crore in the last quarter.

Shares in Jaypee Infratech, on Monday, ended unchanged at Rs 19 apiece on the BSE. The company announced its results after market close.