Jaypee Infratech Q3 loss widens to Rs 427 cr

Jaypee Infratech Ltd on Tuesday reported a consolidated net loss of Rs 426.95 crore in the quarter ended December. Its net loss stood at Rs 347.92 crore in the year-ago period.

Total income also declined to Rs 304.9 crore in the third quarter of this fiscal year from Rs 419.97 crore in the corresponding period of the previous year. The company's total expenses fell to Rs 731.85 crore from Rs 767.89 crore during the period under review.

In December, state-owned NBCC got an approval from financial creditors to takeover debt-laden Jaypee Infratech Ltd rekindling hopes of homebuyers finally getting their promised flats over the next 4 years.