Jaypee Infratech Q2 net profit declines 42%

Jaypee Infratech, a Jaypee Group company, today reported 42 per cent decline in standalone net profit at Rs 180 core for the quarter ended September 30 on the back of increased expenses.

The company's net profit for the July-September quarter in the last fiscal was Rs 310 crore, the company said in a filing to BSE.

The income from operations of Jaypee Infratech for the quarter also dropped to Rs 704 crore, against Rs 715 crore in the corresponding period of last financial year, it said.

In another filing to BSE, the company announced the appointment of Anand Bordia as the director with the company.

"Jaypee Infratech has informed BSE that... S C Bhargava, Director has resigned from the Directorship of the company with effect from November 5, 2012 and the casual vacancy so

caused has been filled by the appointment of Anand Bordia as Director with effect from November 12, 2012," it said.

The decision was taken in the board meeting, it added.

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