Jaypee Infratech Q3 net loss narrows to ~326 crore

Debt-ridden Jaypee Infratech on Monday said its net loss narrowed to ~326.64 in the third quarter ended December 31. The company, which is undergoing Corporate Insolvency Resolution Process, had reported a net loss of ~361.28 crore in the OctoberDecember quarter of the previous fiscal year.

Last year, the National Company Law Tribunal (NCLT) had admitted the application by an IDBI Bank-led consortium, seeking resolution for JIL under the Insolvency and Bankruptcy Code.

During the period under review, its total income rose sharply to ~338.85 crore, as against ~59.91 crore in the corresponding quarter last fiscal year. Its total expenses also increased to ~665.49 crore from ~421.19 crore in the yearago period.