Shares of Jindal Steel and Power tumble 12% after weak March quarter results

New Delhi: Jindal Steel and Power Ltd (JSPL) shares slump 12 percent on Wednesday after the company’s net loss widened to Rs 2,713.34 crore in the fourth quarter ended 31 March. [caption id=“attachment_4358339” align=“alignleft” width=“380”] Representational image. Reuters.[/caption] The scrip of the company opened at Rs 154.90 on BSE and declined 11.95 percent over its previous close to Rs 143.65. On NSE, the shares slipped 12.09 percent to Rs 143.60. Besides, total income during the quarter under review was Rs 10,158.95 crore as against Rs 8,599.28 crore in the same period a year ago. JSPL’s consolidated net loss widened to Rs 2,713.34 crore during the quarter ended March 31, 2019, compared to Rs 426.35-crore net loss in the year-ago quarter, JSPL said in a BSE filing Tuesday. 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 of the preceding fiscal.