JP Associates clinches two contracts from Mangdechhu Hydroelectric Project Authority

23 Mar 2012 Evaluate

Jaiprakash Associates has been awarded two contracts by Mangdechhu Hydroelectric Project Authority, Bhutan for construction of two contract packages pertaining to 720 MW Mangdechhu Hydroelectric Project located in Trongsa district Bhutan.

The company has reported a fall of 12% in its net profit of Rs 205 crore in the third quarter of the current fiscal, mainly on higher interest outgo. The company had clocked Rs 233 crore net profit during the October-December quarter of last fiscal. The interest outgo of the company rose to Rs 449 crore during the quarter compared to Rs 338 crore a year ago as a result of the tightening of the monetary policy by the Reserve Bank.

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