Jaypee Infratech Q1 loss widens to Rs 298 crore

Jaypee Infratech Q1 loss widens to Rs 298 crore
01/08/2018 , by , in ALLIED

Bankruptcy-bound Jaypee Infratech on Tuesday reported a net loss of Rs 298.33 crore for the first quarter this fiscal. Its net loss stood at Rs 44.78 crore in the year-ago period, the company said in a regulatory filing.

Total income from operations, however, rose to Rs 355.39 crore during April-June quarter compared to Rs 320.10 crore in the corresponding period previous year.

The standalone result of the company comprise of only one segment ‘Yamuna ExpresswayProject’ which is an integrated project that inter-alia includes construction, operation and maintenance of Yamuna Expressway and rights for land development of 25 million square metres along the expressway.

Debt-ridden Jaypee Infratech has been under the corporate insolvency resolution process (CIRP) since August 9, 2017 under the provisions of the Insolvency and Bankruptcy Code (IBC) 2016.

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