Jaiprakash Associates' stock plunges 7% as Q1 loss widens

Standalone net loss widens to Rs 465 crore in June quarter

Shares of infrastructure major Jaiprakash Associates slumped nearly seven per cent today as the company's standalone net loss widened to Rs 465 crore in the April-June quarter of 2015-16 financial year.

The stock plunged 6.63 per cent to Rs 11.12 at the BSE.

On 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 had said in a filing to the BSE on Saturday.