Business Daily from THE HINDU group of publications
Tuesday, Apr 28, 2009
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Business Daily from THE HINDU group of publications Tuesday, Apr 28, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
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Financial Performance Corporate Results - Real Estate & Construction Corporate - Private Placement Jaiprakash Q4 net up 83%; to raise Rs 4,000 cr Our Bureau New Delhi, April 27 Infrastructure firm Jaiprakash Associates Ltd announced on Monday that higher revenue from its engineering operations pushed its net profit for the fourth quarter of 2008-09 by 83 per cent to Rs 385.32 crore. Its total income from operations jumped 60 per cent for the latest quarter to Rs 2,151.67 crore from Rs 1,345.28 crore during the corresponding period last fiscal. For fiscal 2008-09, the company’s net profit increased 45 per cent to Rs 881.22 crore as compared with Rs 610 crore recorded in 2007-2008. Total income from operations for the last fiscal went up 51 per cent to Rs 6,015.26 crore, compared with Rs 3,985 crore in the previous financial year. Announcing the results, Jaiprakash Associates’ Executive Chairman, Mr Manoj Gaur, said, “We are on way for 70 per cent-plus growth in FY10.” He added that he expects revenue from the company’s engineering operations to rise 35 per cent in the current financial year. The company has interests in hospitality, real estate and hydropower sectors. Jaiprakash Associates’ shares climbed 4.5 per cent to close at Rs 130.30 a share on the BSE. The company informed the stock exchanges that its board had decided to raise Rs 4,000 crore through private placement of shares and a public issue of non-convertible debentures to meet its capital expenditure plans and long-term working capital requirements. More Stories on : Financial Performance | Real Estate & Construction | Private Placement
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