Jaypee Infratech posts Rs 491.6 crore loss in March quarter

Jaypee Infratech posts Rs 491.6 crore loss in March quarter

Shares of realty firm Jaypee Infratech on Wednesday declined nearly 5% after the company posted a consolidated net loss of Rs 491.60 crore for the quarter ended March 2021. The company had reported a net loss of Rs 940.53 crore in the year-ago period
The stock dipped 4.85% to Rs 3.14 — its lower circuit limit — on the BSE.
Total income fell to Rs 247.44 crore in the fourth quarter of 2020-21 from Rs 384.99 crore in the corresponding period of the previous year.

For the full fiscal 2020-21, Jaypee Infratech clocked a net loss of Rs 1,963.39 crore as against Rs 2,250.09 crore in the previous year.
Total income declined to Rs 804.18 crore from Rs 1,882.36 crore in the 2019-20 fiscal.
Jaypee Infratech is under the Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code (IBC).
State-owned NBCC and Suraksha group are in the race to acquire Jaypee Infratech.

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