Jaiprakash Associates 4Q profit down 7%, India

Jaiprakash Associates Ltd, part of the Jaypee Group, reported a decline in its net profit for the fourth-quarter, despite higher income from cement and cement products.

Net profit was INR283.61 crore or INR1.28/share, down seven per cent from INR303.61 crore (INR1.37/share) in the year-ago quarter.

During the quarter, income from cement and cement products segment stood at INR1686.72 crore, compared with INR1,568.49 crore in Q4FY11, an increase of eight per cent. The construction division's income fell by one per cent to INR1,770.59 crore from INR1,780.57 crore last year.