Jaiprakash Power scrip falls 5% on weak Q3 earnings

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BSE benchmark Sensex closed the day at 19,906.41, up 242.77 points BSE benchmark Sensex closed the day at 19,906.41, up 242.77 points
SummaryShares of Jaiprakash Power Ventures today fell by 5 per cent after the company registered a loss of Rs 97.58 crore in the third quarter ended December 31.

Shares of Jaiprakash Power Ventures today fell by 5 per cent after the company registered a loss of Rs 97.58 crore in the third quarter ended December 31.

After falling nearly 10 per cent during the day, the scrip finally ended at Rs 38.35, down 4.72 per cent on the BSE.

At NSE, the stock closed at Rs 38.20, 5.09 per cent lower from the previous close.

In a regulatory filing to BSE, the company said it has registered a loss of Rs 97.58 crore in the third quarter ended December 31, 2012. The company had posted a net profit of Rs 59.52 crore in the same period last fiscal.

Meanwhile, the company's income from operations grew 8.59 per cent from Rs 367.59 crore in December 31, 2011 to Rs 399.17 crore in December 31, 2012.

Jaiprakash Power Ventures is an arm of the Jaypee Group which has interests in Civil Engineering and Construction, Cement, Power, Real Estate, Expressways, Hospitality.

Dip in the stock was in contrast with an overall strong stock market where the BSE benchmark Sensex closed the day at 19,906.41, up 242.77 points.

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