Jaiprakash Power profit soars to Rs280.65 crore in Sept

Jaiprakash Power Ventures revenues soared more than two-fold to Rs670.84 crore in the second quarter of current fiscal

Jaiprakash Power Ventures (JPVL) saw more than three-fold jump in profit after tax to Rs280.65 crore in the three months to September 2011.

The company, part of diversified Jaypee Group, had raked in a profit of Rs86.98 crore in the year-ago period, it said in a statement.

Revenues soared more than two-fold to Rs670.84 crore in the second quarter of current fiscal from Rs282.55 crore in the same period a year ago.

JPVL chairman Manoj Gaur said the company expects to have an operational capacity of 2,200 MW by the end of this fiscal. By 2019, the generation capacity--including hydro and thermal projects--is anticipated to be 13,470 MW.
The company's 1,000 MW Karcham-Wangtoo Hydroelectric Project has commenced commercial operation, taking the entity's total hydropower capacity to 1,700 MW.

"By the end of this financial year, the company aims to have 2,200 MW operational generation capacity, including the first phase of 500 MW thermal power of the 1,250 MW Bina thermal project in Madhya Pradesh," Gaur said.
According to him, the work on 1,320 MW (2x660 MW) Jaypee Nigrie Super Thermal Power Project in Nigrie, Madhya Pradesh is progressing satisfactorily and all major statutory approvals, required at the current stage of the project, have been obtained.

In the late afternoon, Jaiprakash Power was trading at around Rs34.70 per share on the Bombay Stock Exchange, 1.56% down from the previous close.

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BGR Energy wins thermal plant contract worth Rs1,698 crore

The first unit of the project is scheduled to be completed in 29 months and the second unit in 32 months

Chennai-based BGR Energy Systems has bagged a Rs1,698-crore EPC (engineering, procurement and construction) contract from New Delhi-based TRN Energy Pvt Ltd for setting up a coal-based thermal power project in Chhattisgarh.

The turnkey contract is for setting up a 2x300-MW project at Nawapara village in Chhattisgarh, a company release said.

The first unit of the project is scheduled to be completed in 29 months and the second unit in 32 months, it said. The order value includes foreign currency content of $188 million at an exchange rate of Rs44.70, the company said, adding that the contract provides for foreign exchange variation protection to the company at the actual exchange rate.

In the late afternoon, BGR Energy Systems was trading at around Rs282 per share on the Bombay Stock Exchange, 1.18% up from the previous close.

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Unitech sales stood at Rs2,088 crore in April-Sept

Unitech reported a 47% decline in its consolidated net profit at Rs92.46 crore for the quarter ended September 30, 2011

Realty major Unitech said the company has sold 3.71 million sq ft of area worth Rs2,088 crore and reduced its debt by nearly Rs400 crore in the first half of this fiscal.

In a presentation, the company said that it has launched nearly 6 million sq ft between April and September period of this fiscal.

“Over Rs 2,000 crore of sales bookings achieved during H1 2011-12,” it said, adding that the average sales realisation stood at Rs5,633 per sq ft.
Out of 3.71 million sq ft that it sold during the first half of this fiscal, Unitech said the housing sector accounted for 3.22 million sq ft.

In sales booking, the housing segment contributed Rs1,565 crore, while the non-residential vertical accounted for Rs523 crore, the presentation said.
Unitech said its debt has reduced by Rs394.69 crore in the first half of the current financial year. The company had a consolidated net debt of Rs5,144 crore as of September 30.

Unitech reported a 47% decline in its consolidated net profit at Rs92.46 crore for the quarter ended September 30, 2011. The net sales fell by 3% to Rs626.06 crore in the second quarter of the current fiscal against Rs644.51 crore in the same period of the last fiscal.

In the late afternoon, Unitech was trading at around Rs23.20 per share on the Bombay Stock Exchange, 6.26% down from the previous close.

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