Jaiprakash Associates' net loss widens to Rs 604 crore

Jaiprakash Associates - infrastructure conglomerate, reported weak June quarter ended 2016 (Q1FY17) results. 

The company's net loss widened to Rs 604.20 crore in Q1FY17 from Rs 483.60 crore in the corresponding period of the previous year. 

Not only the bottom-line but top-line too was negative of Jaiprakash Associate. 

Total income from operation stood at Rs 1734.98 crore, a decline of 27.11% against Rs 2380.55 crore a year ago same period. 

While operating profit (EBITDA) of Rs 213.62 crore, declined by 29.49% year-on-year(yoy). It's operating profit margin was at 12.31%, contracting by 42 basis points yoy. 

On segment wise revenue break-up, the cement business declined by 38.46% yoy to Rs 880.7 crore, while construction business stood at Rs 353.05 crore, down by 43.53. 

Going ahead in segment performance, the power business of the company also declined by 40.61% yoy to Rs 35.39 crore. 

Shares of Jaiprakash Associates on Friday, closed at Rs 12.11 down by 1.54%.