JSPL shares slump 12 pct after company's loss widened to Rs 2,713 cr in Q4

Jindal Steel and Power Ltd (JSPL) shares slump 12 per cent Wednesday after the company's net loss widened to Rs 2,713.34 crore in the fourth quarter ended March 31. The scrip of the company opened at Rs 154.90 on BSE and declined 11.95 per cent over its previous close to Rs 143.65.

On NSE, the shares slipped 12.09 per cent to Rs 143.60. Besides, total income during the quarter under review was Rs 10,158.95 crore as against Rs 8,599.28 crore in the same period a year ago.

JSPL's consolidated net loss widened to Rs 2,713.34 crore during the quarter ended March 31, 2019, compared to Rs 426.35-crore net loss in the year-ago quarter, JSPL said in a BSE filing Tuesday. Total expenses of the company stood at Rs 11,850.61 crore in March 2019 quarter as against Rs 8,493.57 crore in the corresponding period of the preceding fiscal.