Jaiprakash Associates Ltd., a Jaypee Group firm with business interest in construction, power, cement, real estate and hospitality, reported a decline in its stand-alone net profit for the fourth-quarter, on account of lower income from its main business verticals, including cement and construction, and decline in sales.
Stand-alone Results
The Noida, Uttar Pradesh-based company posted a fourth-quarter stand-alone net profit of Rs.123.50 crore or Re.0.57 per share, down by 57 percent from Rs.283.81 crore or Re.1.28 per share in the year-ago quarter.
Its quarterly net income from operations decreased by four percent to Rs.3,864.19 crore from Rs.4,026.35 crore last year, while other operating income totaled Rs.43.19 crore, compared with Rs.35.79 crore in Q4FY12.
During the quarter, income from 'Cement and Cement Products' segment stood at Rs.1,636.34 crore, compared with Rs.1,686.72 crore in Q4FY12, a three percent decline, while that of 'Construction Division' fell by 13 percent to Rs.1,532.70 crore from the Rs.1,770.59 crore last year.
Income from 'Power' segment totaled Rs.5.12 crore, compared with Rs.4.29 crore in the prior year and 'Hotel/Hospitality and Gold Course' income was Rs.68.51 crore, up by 23 percent from Rs.55.77 crore in the year-ago quarter.
During the year, income from 'Real Estate and Infrastructure' segment amounted to Rs.640.78 crore, higher by 14 percent than the Rs.560.38 crore in the preceding year quarter, while that of 'Investments' plummeted by 19 percent to Rs.15.67 crore from Rs.19.31 crore a year-ago. Income from 'Others' and 'Unallocated' segments was Rs.49.52 crore and Rs.14.70 crore respectively, compared with Rs.0.33 crore and Rs.14.83 crore respectively last year.
For the twelve month period, the company posted a stand-alone net profit of Rs.501.28 crore, compared with Rs.1,026.38 crore a year-ago - a 51 percent decline. Net income from operations and other operating income rose by four percent to Rs.13,358.37 crore from the Rs.12,853.12 crore in 2012.
Consolidated Results
For the fiscal year, the company posted stand-alone net profit, after minority interest and share of profit of associates, of Rs.461.79 crore, down by 27 percent from the Rs.632.92 crore a year-ago. Net income from operations and other operating income increased by 27 percent to Rs.18,970.82 crore from Rs.14,873.50 crore in 2012.
The company's Board recommended a dividend of 25 percent or Re.0.50 per equity share of Rs.2 each for the fiscal year 2013.
At the BSE, Jaiprakash shares are currently trading at Rs.74.80, down Re0.40 or 0.53 percent on a volume of around 799,000 shares.
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