Jaypee Infratech Q3 net falls 60 per cent to Rs 155 crore

Jaypee Infratech today reported 60 per cent dip in net profit for the October-December quarter at Rs 155.06 crore mainly due to higher finance costs.

The company, which operates Yamuna Expressway project, had clocked Rs 392.07 crore net profit in the same quarter of the last fiscal year, it said in a filing to Bombay Stock Exchange (BSE).

Net sales of the company grew to Rs 933.13 crore from Rs 902.68 crore a year ago.

However, finance costs also escalated to Rs 225.88 crore during the quarter under review from Rs 9.90 crore a year ago.

Higher expenses at Rs 516.10 crore from Rs 405.91 crore a year ago also impacted the bottomline.

The scrip of the company was trading at Rs 45.95 a share, up 0.11 per cent, as of 3:18 p.m. on the BSE.