Jaypee Infratech Q3 net loss narrows to Rs 326 cr

Chennai: Debt ridden Jaypee Infratech has said its net loss narrowed to Rs 326.64 crore in the third quarter ended 31 December.

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 Jaypee Infratech 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; the 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.

NT Bureau