Jaypee Infratech shares dip 7.5% as Q1 Net drops

Shares of Jaypee Infratech slumped 7.5 per cent today after the company reported 43.23 per cent drop in standalone net profit for the quarter ended June 30.
After falling 9.49 per cent to Rs 14.30 apiece in intra-day trade at the BSE, shares of the company finally ended at Rs 14.60, down 7.59 per cent from its previous close.
At the NSE, the stock dipped 7.59 per cent to end at Rs 14.60.
The company's market valuation fell by Rs 166.16 crore to Rs 2,027.84 crore.
On the volume front, 8.35 lakh shares of the company changed hands at the BSE and over 30 lakh shares were traded at the NSE during the day.

Jaypee Infratech yesterday reported 43.23 per cent drop in standalone net profit at Rs 26.09 crore for the quarter ended June 30, 2015.
The company's net profit in the corresponding quarter of the previous fiscal was Rs 45.96 crore, Jaypee Infratech had said in a regulatory filing.
Net sales of the company during the quarter were at Rs 513.44 crore, registering a drop of 27.23 per cent from Rs 705.64 crore in the year-ago period, it added.