Jaypee Infratech is currently the top loser on the BSE, down over 7% at Rs.14.50 levels, closer to its intra day low of Rs.14.30. Its 52-week low stands at Rs.11.65.

The company, a subsidiary of the Jaypee Group, its main source of income is what it earns from developing, maintaining and operating the Yamuna Expressway in the state of Uttar Pradesh, connecting Noida and Agra. It also has rights for land development of 25 million sq.mtrs along the expressway.

It posted a 27% (YoY) rise in net sales for the quarter at Rs.513 crore and despite costs being down 41%, EBITDA came in lower 4% at Rs.263 crore. And then came the interest outgo of Rs.231 crore, which is 45% of the revenue earned. With debts of over Rs.13,000 crore, this was bound to happen. Consequently, net profit for the quarter was down 43% at Rs.26 crore. 

The company is taking steps to reduce debt by trying to sell non-core assets but does not seem to be making too much headway.