Jaiprakash Associates net loss narrows
DEBT-ridden Jaypee group's flagship firm Jaiprakash Associates on Tuesday reported standalone net loss of Rs 186.48 crore for the quarter ended September on lower income.
Its net loss stood at Rs 781.20 crore in the year-ago period, the company said in a regulatory filing.
Jaiprakash Associates' total income declined to Rs 871.71 crore in the second quarter of this fiscal from Rs 1,437.09 crore in the corresponding period of the previous year.
The company, which is engaged in the businesses of construction, cement, real estate, hotel, sports and power among others, said that during the quarter ended September, it entered into contract for new work aggregating to Rs 983 crore with Water Resources Department, Madhya Pradesh government. It also received letter of award aggregating to Rs 1,492 crore for execution of dam and hydro projects in Nepal.