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Jaiprakash Power Q2 Results: Net Profit Slips 81% To Rs 33 Crore On One-Time Loss

Jaiprakash Power Ventures' second quarter revenue rose 5.1% year-on-year, while profit before exceptional items and tax climbed nearly 79%. A Rs 511 crore provision for a settlement with NARCL weighed on earnings this quarter. JP Power Ventures's consolidated net profit fell 81.7% year-on-year to Rs 33.34 crore in the quarter ended Sept 30, compared with Rs 182 crore in the year-ago period.

The decline followed a Rs 511 crore exceptional charge towards a proposed full-and-final settlement with the National Asset Reconstruction Company Ltd. (NARCL) over a corporate guarantee furnished by the company for loans to Jaiprakash Associates.

Net profit fell 81.7% to Rs 33.3 crore as compared to Rs 182 crore the previous year in the same period.

Revenue from operations increased 5.1% year-on-year to Rs 1,512.12 crore from Rs 1,438.30 crore. Total income rose to Rs 1,579.34 crore from Rs 1,478.49 crore.

The company's September-quarter earnings therefore reflect the impact of the settlement provision, even as profit before exceptional items and tax improved.

Jaiprakash Power Q2 Results - Cons, YoY

  • Net profit down 81.7% at Rs 33.3 crore vs Rs 182 crore YoY
  • Revenue up 5.1% at Rs 1,512 crore vs Rs 1,438 crore YoY
  • EBITDA up 39.3% at Rs 656 crore vs Rs 471 crore YoY
  • EBITDA margin at 43.4% vs 32.8% YoY
  • One-time loss of Rs 511 crore in Q2
  • Appoints Jigar Dalal as CFO from Nov. 1



from NDTV News- Special https://ift.tt/pnHWEB7
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