Debt-ridden Jaypee Infratech on Saturday reported a net loss of Rs 448.09 crore for the quarter ended June 30, 2019.
The company’s net loss stood at Rs 319.82 crore in the year-ago period, the Noida-based realty firm said in a regulator filling.
Total income, however, rose to Rs 669.56 crore during the April-June quarter of this financial year from Rs 432.31 crore in the corresponding previous quarter.
Jaypee Infratech went into insolvency in 2017 after the National Company Law Tribunal (NCLT) admitted an application by an IDBI Bank-led consortium seeking a resolution.
During the first round of insolvency proceedings, the Rs 7,350-crore bid of Lakshdeep, part of Suraksha Group, was rejected by the lenders.
In October 2018, interim resolution professional Anuj Jain started a fresh initiative to revive Jaypee Infratech on the NCLT’s direction.
In the second round, lenders rejected the bids of Suraksha Realty and state-owned NBCC through a bidding process.
Jaiprakash Associates (JAL), the promoter of Jaypee Infratech, had submitted Rs 750 crore in the registry of the Supreme Court for refunds to home buyers and the amount is lying with the NCLT.
Meanwhile, Jaiprakash Power Ventures has reported a consolidated net loss of Rs 95.52 crore for the June quarter of 2019.
The company had reported a net profit of Rs 19.75 crore for the April-June period a year ago.
Total income during the quarter under review was down 4.08 per cent to Rs 1,084.64 crore from Rs 1,130.79 crore in the corresponding quarter of the previous fiscal.
