JSPL shares sink over 11% on Q1 loss

Shares of Jindal Steel & Power (JSPL) today slumped over 11 per cent after the company reported a consolidated net loss of Rs 339.26 crore for the April-June quarter.
The stock plunged 11.10 per cent to settle at Rs 68.45 on the BSE. In intra-day, it tanked 12.14 per cent to Rs 67.65 -- its 52-week low.
At the NSE, shares of the company nosedived 11.34 per cent to close at Rs 68.40.
The company's market valuation fell by Rs 781.48 crore to Rs 6,262.52 crore.
On the volume front, 21.46 lakh shares of the company changed hands at the BSE and over one crore shares were traded at the NSE during the day.

JSPL yesterday reported a consolidated net loss of Rs 339.26 crore for the April-June quarter owing to higher depreciation and finance costs.
The firm had posted a net profit of Rs 418.13 crore in the year-ago period, it had said in a BSE filing.
Consolidated total income of the company declined to Rs 4,426.32 crore in the quarter under review from Rs 4,687.33 crore in the same period a year ago, it added.