Jaypee Infratech Sheds 4% After Reporting Rs 491 Crore Loss In March Quarter

Jaypee Infratech - part of the Jaypee Group, reported a net loss of Rs 491.60 crore on a consolidated basis in the March quarter, according to a regulatory filing by the company to BSE

Jaypee Infratech Sheds 4% After Reporting Rs 491 Crore Loss In March Quarter

Shares of Jaypee Infratech were last trading 4.85 per cent lower at Rs 3.14 on the BSE.

Share price of Jaypee Infratech declined more than four per cent on Wednesday, June 23, a day after the company announced its January-March quarter results for the financial year 2020-21. On Wednesday, Jaypee Infratech opened on the BSE at Rs 3.14, inching to an intra day high of Rs 3.14 and an intra day low of Rs 3.14, in the trading session so far. Jaypee Infratech - part of the Jaypee Group, reported a net loss of Rs 491.60 crore on a consolidated basis in the March quarter, according to a regulatory filing by the company to the stock exchanges.

The company reported a net loss of Rs 940.53 crore in the corresponding quarter of the previous fiscal. Jaypee Infratech's sales declined 36.17 per cent to Rs 244.59 crore in the fourth quarter of the financial year 2020-21, compared to Rs 383.18 crore in the year-ago period.

For the entire financial year, Jaypee Infratech reported a net loss of Rs 1,963.39 crore, compared to Rs 2,250.09 crore in the previous fiscal. The company is under the corporate insolvency resolution process (CIRP) under the Insolvency and Bankruptcy Code. Blue-chip state-owned NBCC India and Suraksha Group are in the running to acquire Jaypree Infratech, according to news agency PTI.

On the NSE, Jaypee Infratech opened at Rs 3.25, registering an intra day high and low to the same value. It was last trading 4.41 per cent lower at Rs 3.25 on the NSE.

Shares of Jaypee Infratech were last trading 4.85 per cent lower at Rs 3.14 on the BSE.