Jaypee Infratech Ltd’s operational revenue for Q4FY18 stood at Rs254.24 as against a revenue loss of Rs640.75cr in the same period a year ago. In Q4FY18, the company’s EBITDA loss reduced to Rs43.14cr against an EBITDA loss of Rs126.38cr in Q4FY17. The company’s Adj. loss after tax reduced to Rs480.45cr as against loss after tax of Rs667.55cr.
On August 9. 2017 National Company Law Tribunal (NCLT), Allahabad bench, had admitted the petition for initiating Corporate lnsolvency Resolution process (CIRP) under the lnsolvency and Bankruptcy Code, 2016 (IBC) vide its order dated August 9, 2017 and appointed Mr. Anuj Jain as the Interim Resolution Processional (RP) in terms of the IBC. Mr. Anuj Jain was subsequently confirmed by the Committee of Creditors (CoC) as the RP. The matter is also pending in Supreme Court in Writ Petition No. 74412017. Any outcome of CIRP is subject to final decision of Supreme Court in the above matter.
Accordingly, Mr. Anuj Jain took control of the management and operations of the Company. As the powers of the Board of Directors have been suspended & the above result have not been adopted by the Board of Directors however, the same have been signed by Mr. Manoj Gaur, Chairman Cum Managing Director of the Company, confirming, accuracy & completeness of the results. These financial statements have thereafter been taken on record by the RP on May 17, 2018 for filing with the stock exchanges.
As the Company is under Corporate Insolvency Resolution Process (CIRP), the financial statements have been presented on a 'going concern' basis. As per the CIRP, the resolution plan submitted by prospective Resolution Applicant has not been approved by COC within the mandatory 270 days period.
Jaypee Infratech Ltd is currently trading at Rs. 5.90, up by 0.21 points or 3.69% from its previous closing of Rs. 5.69 on the BSE.
The scrip opened at Rs. 5.97 and has touched a high and low of Rs. 5.97 and Rs. 5.41 respectively. So far 41,39,292 (NSE+BSE) shares were traded on the counter. The stock is currently trading above its 200 DMA.
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