Jaiprakash Associates reports Q1 net profit of Rs. 764.99 crores
Jaiprakash Associates reported a standalone net profit of Rs 764.99 crore in the quarter ended June, the reason being the higher income and lower expenses incurred during the period. The company had reported a loss of Rs 602.95 crore in the corresponding quarter of the previous year.
The compny’s total income for the April-June period stood at Rs 2,602.9 crore, against Rs 1,836.61 crore in the year-ago period.
According to a regulatory filing, the company’s total expenses reduced to Rs 2,444.13 crore in the quarter under review, as compared to Rs 2,703.26 crore in the corresponding period a year ago.
The company also approved a proposal for raising of funds up to Rs 2,000 crore through equity related instruments for meeting capital expenditure, reduction of debt, general corporate purposes and working capital requirements for its businesses.