Jaiprakash Power Ventures's standalone net loss widened to Rs 172.96 crore in the quarter ended on December 31, 2016.
The company has reported a net loss of Rs 115.81 crore in the quarter ended December 31, 2015, Jaiprakash Power Ventures Ltd said in a BSE filing.
According to statement, its total income from operations stood at Rs 696.35 crore in the quarter ended on December 31, 2016, down from Rs 829.89 crore in the same period a year ago.
In another filing, the company informed its board in a meeting today has approved the proposal for issuance and allotment of 305.80 crore equity shares to lenders on preferential basis to the extent of 51 per cent of equity share capital by conversion of part of their outstanding loan into equity shares, pursuant to implementation of SDR (strategic debt restructuring).
The shareholder had approved the special resolution for conversion of debt into equity under SDR through postal ballot on February 10, 2017.