JSPL shares decline 7 pc on weak Q4 results

Jindal Steel and Power Ltd (JSPL) shares dropped 7 per cent Wednesday after the company's consolidated net loss widened to Rs 2,713.34 crore during the fourth quarter ended March 31.

The shares of the company declined 6.80 per cent to close at Rs 152.05 on the BSE. During the day, it fell 11.95 per cent to Rs 143.65.

On the NSE, the scrip plunged 7.04 per cent to end at Rs 151.85.

The company Tuesday reported a consolidated net loss of Rs 2,713.34 crore for the quarter ended March 31, 2019 as compared with a net loss Rs 426.35 crore in the year-ago quarter.

Total income during the quarter under review was at Rs 10,158.95 crore as against Rs 8,599.28 crore in the same period a year ago.

Total expenses of the company stood at Rs 11,850.61 crore in March 2019 quarter as against Rs 8,493.57 crore in the corresponding period last year.