Jaypee Infratech shares slump 7.5% as Q1 net drops

By: | Updated: August 7, 2015 5:41 PM

Shares of Jaypee Infratech slumped 9.5 per cent on Friday after the company reported 43.23 per cent drop in standalone net profit for the quarter ended June 30.

Shares of Jaypee Infratech declined 7.59 per cent on Friday after the company reported 43.23 per cent drop in standalone net profit for the quarter ended June 30. The scrip closed at Rs 14.60.

Jaypee Infratech on Thursday reported 43.23 per cent drop in standalone net profit to Rs 26.09 crore for the quarter ended June 30, 2015.

The company’s net profit in the corresponding quarter of the previous fiscal was Rs 45.96 crore, Jaypee Infratech had said in a regulatory filing.

Net sales of the company during the quarter were at Rs 513.44 crore, registering a drop of 27.23 per cent compared to Rs 705.64 crore in the year-ago fiscal, it said.

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