Jaypee Infratech Q3 net loss narrows to Rs 326 cr
Debt ridden Jaypee Infratech on Monday said its net loss narrowed to Rs 326.64 in the third quarter ended December 31. The company, which is undergoing Corporate Insolvency Resolution Process, had reported a net loss of Rs 361.28 crore in the October-December quarter of the previous fiscal.
Last year, the National Company Law Tribunal (NCLT) had admitted the application by an IDBI Bank-led consortium, seeking resolution for JIL under the Insolvency and Bankruptcy Code.
During the period under review, its total income rose sharply to Rs 338.85 crore, as against Rs 59.91 crore in the corresponding quarter last fiscal.
Its total expenses also increased to Rs 665.49 crore from Rs 421.19 crore in the year-ago period.
“The standalone results of the Company comprise of only one segment i e Yamuna Expressway Project, an integrated project which inter-alia includes construction, operation and maintenance of Yamuna Expressway and rights for land development of 25 million sq mtrs along the expressway,” Jaypee Infratech said in a regulatory filing.