Jaiprakash Associates has reported results for the second quarter ended September 30, 2013.
The company has reported a fall of 47.14% its net profit at Rs 67.67 crore for the quarter as compared to Rs 128.01 crore for the same quarter in the previous year. However, total income of the company has increased by 9.03% at Rs 3300.57 crore for quarter under review as compared to Rs 3027.32 crore for the quarter ended September 30, 2012.
Jaiprakash Associates, in last year, divested its cement units in Gujarat and Andhra Pradesh into a separate company, Jaypee Cement, in order to monetize a part of its investments to help the parent company reduce its debt. Jaypee group’s cement division currently operates modern, computerized process control cement plants with an aggregate capacity of 21.3 MTPA.
