JP Associates registers 33.93% gwth in turnover

JP Associates registers 33.93% gwth in turnover
Published: 21 January 2009

Jaiprakash Associates Limited (JAL), recorded a total income of Rs 3921.87 crore for the nine months of current fiscal; an increase of 33.93% as compared to Rs 2928.36 crore in the corresponding previous period. EBIDTA for 9MFY09 improved to Rs 1176.22 crore; an increase of 27.57% as compared to Rs 922.01 crore in the corresponding previous period. Net profit for the 9MFY09 was at Rs 495.90 crore as against Rs 399.26 crore in 9MFY08. The earnings per share (EPS) for 9MFY09 stood at Rs 4.22 per share.

JAL’s all operating subsidiaries with its robust performance has made JAL a unique organisation, whereby bucking the general trend total income for the Q3FY09 registered a growth of 44.49% and stood at Rs 1447.12 crore. EBIDTA for Q3FY09 was at Rs 372.69 crore. The share of revenue from Cement Division (including cement products) during the quarter constituted 40% of the revenue while Engineering Division (including Real Estate & others) during the quarter constituted 57% of the revenue.

JAL registered net profit of Rs 165.51 crore for the quarter ended December 31, 2008 registering growth of 6% over the corresponding quarter of the previous year. The Operating Margins for Q3FY09 stood at 22.19%.

Commenting on the Company’s performance for 9M & Q3 FY09, Mr. Manoj Gaur, Executive Chairman, Jaiprakash Associates Ltd., said, "Even in a challenging macro environment, we are delighted to report an operationally strong financial growth in the third quarter and for the nine months ended December 31, 2008. Emphasis on effective execution and timely delivery of projects without compromising on quality has helped us achieve excellence across all business segments in which JAL operates."