JP Power stock soars nearly 20% on Q1 results

Shares of Jaiprakash Power Ventures Ltd (JVPL) shot up by nearly 20 per cent today after it posted Rs 64.94 crore standalone net profit for the quarter ended June 30.
The stock zoomed 19.64 per cent to settle at Rs 8.04 on the BSE. During the day, it jumped 23.51 per cent to Rs 8.30.
On the NSE, shares of the company rallied 19.25 per cent to Rs 8.05 at close.
The company's market valuation rose by Rs 388.15 crore to Rs 2,362.15 crore.
On the volume front, 74.83 lakh shares of the company changed hands on the BSE and over 3 crore shares were traded at the NSE during the day.

JPVL had posted net profit of Rs 69.15 crore in the April -June period of last fiscal, JPVL said in a BSE filing.

Total standalone income of the company stood at Rs 1,209.37 crore in April-June quarter of this fiscal against Rs 787.02 crore in the same quarter of 2014-15.
The results under review are of 300 MW Jaypee Baspa II Hydro Electric (HE) Plant, 400 MW Jaypee Vishnuprayag HE Plant, 1091 MW Jaypee Karcham Wangtoo HE Plant, 500 MW Jaypee Bina Thermal Power Plant, 1320 MW Jaypee Nigrie Super Thermal Power Project and Jaypee Nigrie Cement Grinding unit which commenced operations from June 03, 2015, it said.

"Hence the figures of the current quarter are not comparable with figures of the corresponding quarter in the previous year. Previous quarter/period figures have been regrouped/reclassified wherever necessary," the filing added.