Mumbai (Maharashtra) [India], Feb 12 (ANI): Beleaguered realty major Jaypee Infratech Limited has said its net loss narrowed to Rs 326.64 crore in the third quarter ended December 31 as total income rose to Rs 338.85 crore.
It had reported a net loss of Rs 361.28 crore in October to December quarter of previous fiscal with a total income of Rs 59.91 crore. Total expenses increased to Rs 665.49 crore from Rs 421.19 crore in the year-on period, it informed stock exchanges on Tuesday.
The standalone results comprise only one segment, that is 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 square metres along the expressway.
The company is undergoing a corporate insolvency resolution process. 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. (ANI)