Jaypee Infratech shares decline nearly 5 per cent after earnings announcement

NEW DELHI: Shares of realty firm Jaypee Infratech Ltd on Wednesday declined nearly 5 per cent after the company posted a consolidated net loss of Rs 491.60 crore for the quarter ended March 2021. The stock dipped 4.85 per cent to Rs 3.14 -- its lower circuit limit -- on the BSE.

At the NSE, it declined 4.41 per cent to Rs 3.25 -- its lower circuit. The company had reported a net loss of Rs 940.53 crore in the year-ago period, it said in a regulatory filing. 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).