Jaiprakash Associates posts Q4 net loss of Rs 505.95 cr
The company reported standalone net loss during the quarter stood at Rs 505.95 crore compared to net profit of Rs 560.40 crore in the previous year quarter. Net revenue of the company declined substantially by 43.32 per cent at Rs 1,136.95 crore in January-March quarter of this fiscal as against Rs 2,005.79 crore in the corresponding period last year.
During January-March quarter, operating expenses increased by 14.42 per cent to Rs 1,472.40 crore from Rs 1,286.83 crore in year ago period. Other Income grew by 19.80 per cent at Rs 170.20 crore versus (Mar'21 Rs 142.07 crore). Operating Profit slipped by 146.66 per cent to Rs -335.45 crore as against Rs 718.96 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 182.31 per cent in March quarter. Interest grew by 16.93 per cent y-o-y to Rs 226.49 crore, while Taxation increased by 0.57 per cent at Rs 3.53 crore (Mar'21 Rs 3.51 crore).
