Shares of infrastructure major Jaiprakash Associates slumped nearly 7 per cent today as the company’s standalone net loss widened to Rs 465 crore in the April-June quarter of the 2015-16 fiscal.
The stock plunged 6.63 per cent to Rs 11.12 at the BSE. On the NSE, it tumbled 6.72 per cent to Rs 11.10.
Jaiprakash Associates’ standalone net loss widened to Rs 465 crore in the April-June quarter of the current fiscal from Rs 80.61 crore in the corresponding quarter of the previous year.
Total income from operations of the company also declined to Rs 2,392.75 crore in the June quarter from Rs 3,030.40 crore in the year-ago period, the company said in a filing to the BSE on Saturday.