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« Jaipur: Now, own a home on Delhi-Jaipur highway! | Home | Officials spare houses after villagers protest »

Jaiprakash Associates’ net down 12% in Q3

Jaiprakash Associates’ net profit declined by 12 per cent to Rs 205 crore in the third quarter of the current fiscal, mainly on higher interest outgo.

The diversified company, having interest in cement, real estate, construction and power, among others, had clocked Rs 233-crore net profit during the October-December quarter of the last fiscal, it said in a filing to the BSE today.

“EBIDTA for the quarter is higher by Rs 86 crore over the corresponding quarter of the previous year. However, due to higher incidence of interest and depreciation, the PBT and PAT are lower compared to the corresponding quarter of the previous year,” the company said.

Interest outgo rose to Rs 449 crore from Rs 338 crore as a result of the tightening of the monetary policy by the Reserve Bank of India.

Total income, however, rose to Rs 3,305 crore against Rs 2,949 crore a year ago buoyed by good growth in sales from the cement and real estate businesses.

Contribution of construction vertical to the topline, however, dipped marginally to Rs 1,242 crore in the quarter compared with Rs 1,264 crore a year earlier.

Source: http://www.realtyplusmag.com/rpnewsletter/fullstory.asp?news_id=18829&cat_id=2

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