Jaiprakash Associates shares dip over 9% on dismal Q1 earnings

Shares of Jaiprakash Associates tumbled over nine per cent today after the company reported a net loss of Rs 80.61 crore for the quarter ended June 30, 2014.
The company's stock ended at Rs 53.55, down 9.16 per cent, from its previous close on the BSE. During the day, it tumbled 13.23 per cent to Rs 51.15.
At the NSE, the scrip plummeted 9.41 per cent to Rs 53.40.
In terms of volume, 94.89 lakh shares of the company changed hands at the BSE, while more than 6 crore shares were traded at the NSE during the day.
The company posted a net loss of Rs 80.61 crore for the quarter ended June 30, 2014 as compared to a net profit Rs 334.51 crore for the quarter ended June 30, 2013, it had said in a filling to the BSE yesterday.

Total income decreased from Rs 3,351.93 crore for the quarter ended June 30, 2013 to Rs 3,041.56 crore for the quarter ended June 30, 2014.