Shares of Jindal Steel and Power Limited (JSPL) tanked nearly 12 percent on Wednesday after the company reported weak results for the quarter ending March 2019. The company reported a consolidated net loss of Rs 2,713 crore in Q4. It had posted Rs 426 crore net loss in the year-ago quarter.

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The stock fell as much as 11.9 percent to Rs 143.65 per share on BSE. At 1:13 pm, it was trading 9.6 percent lower at Rs 147.50 as compared to a 0.2 percent rise in BSE Sensex at 39,058.

The loss was mainly due to a one-time payment of Rs 1,733.9 crore, coupled with higher expenses and finance costs. Total income in Q4 was higher at Rs 10,158.95 crore as against Rs 8,599.28 crore YoY.

Meanwhile, the total expenses of the company stood at Rs 11,850.61 crore in March 2019 quarter as compared to Rs 8,493.57 crore in the corresponding period of the preceding fiscal.

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