Jaiprakash Power earns Rs 16.8 cr net in Q3

Hydro electricity major Jaiprakash Power Ventures today announced a net profit of Rs 16.86 crore for the third quarter ended December 31, 2009.

The company had a net profit of Rs 44 crore in the December quarter last fiscal, Jaiprakash Power Ventures said in a filing to the Bombay Stock Exchange (BSE).

The operating results the December quarter (nine-month) period under review are not comparable due to the inclusion of 400 Mw Vishnuprayag project, it said.

The company's total income grew to Rs 119.03 crore for the quarter under review whereas it was Rs 61.87 crore during the same period previous year, it said.

 

For the nine-month period ended December 31, 2009, it earned a net profit of Rs 190.96 crore, while it stood at Rs 165.46 crore in the same period previous year.

Similarly, its total income rose to Rs 533.32 crore in the nine-month period under review whereas it was Rs 279.26 crore during the same period a year ago.

The company, earlier known as Jaiprakash Hydro Power, had changed its name to Jaiprakash Power Ventures pursuant to sanction of the amalgamation scheme which became effective from December 23.

Shares of the company closed at Rs 80.05, down 2.73 per cent from the previous close on the BSE.