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Jaypee Infratech net loss widens to Rs 529.42 crore in Q1 FY22, Real Estate News, ET RealEstate

Jaypee Infratech net loss widens to Rs 529.42 crore in Q1 FY22, Real Estate News, ET RealEstate
NEW DELHI: Jaypee Infratech posted net consolidated loss of Rs 529.42 crore in the first quarter of the financial year 2021-22, the company said in a BSE filing. It had recorded a loss of Rs 508.65 crore in the corresponding quarter previous year.

The company’s net consolidated income stood at Rs 223.53 crore in Q1 FY22, a growth of 112 per cent from Rs 105.63 crore recorded in the similar quarter last year.

The company, has been undergoing corporate insolvency resolution process (CIRP) since 2017 under Insolvency & Bankruptcy Code, 2016. The committee of creditors (CoC) in June 2021 approved the final resolution plan submitted by Suraksha Group.

However objections were filed by ICICI Bank, Yamuna Expressway Industrial Development Authority (YEIDA), Jaiprakash Associates and others against the approved plan and the matter is still pending before NCLT.

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