Jaiprakash Associates Ltd., a Jaypee Group firm engaged in integrated engineering construction and cement manufacture, reported a decline in its stand-alone net profit for the fourth-quarter, despite higher income from cement and cement products.
Stand-alone Results
The Noida, Uttar Pradesh-based company posted fourth-quarter stand-alone net profit of Rs.283.61 crore or Re.1.28 per share, down by seven percent from Rs.303.61 crore or Re.1.37 per share in the year-ago quarter.
Its quarterly net income from operations increased by three percent to Rs.4,026.35 crore from Rs.3,903.88 crore last year, while other operating income totaled Rs.35.79 crore, compared with Rs.44.47 crore in Q4FY11.
During the quarter, income from Cement and Cement Products segment stood at Rs.1,686.72 crore, compared with Rs.1,568.49 crore in Q4FY11, an increase of eight percent. Construction Division's income fell by one percent to Rs.1,770.59 crore from Rs.1,780.57 crore last year.
Income from 'Wind Power' segment totaled Rs.4.29 crore, compared with Rs.3.90 crore in the prior year and 'Hotel/Hospitality and Gold Course' income was Rs.55.77 crore, up by eight percent from Rs.51.71 crore in the year-ago quarter.
During the year, income from 'Real Estate' segment amounted to Rs.560.38 crore, down six percent from Rs.595.35 crore in the preceding year quarter, while that from 'Investments' plummeted by 79 percent to Rs.19.31 crore from Rs.92.39 crore a year-ago. Income from 'Others' and 'Unallocated' segments was Rs.0.33 crore and Rs.14.83 crore, respectively, compared with Rs.3.12 crore and Rs.40.37 crore respectively last year.
For the twelve month period, the company posted stand-alone net profit of Rs.1,026.38 crore, compared with Rs.1,167.78 crore a year-ago - a 12 percent decline. Net income from operations and other operating income fell by two percent to Rs.12,853.12 crore from Rs.13,092.79 crore in 2011.
Consolidated Results
For the fiscal year, the company posted stand-alone net profit, after minority interest and share of profit of associates, of Rs.632.92 crore, down by 65 percent from the Rs.1,792.82 crore a year-ago. Net income from operations and other operating income increased by 31 percent to Rs.14,873.50 crore from Rs.11,374.91 crore in 2011.
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 2012.
The board also decided to raise funds to the tune of $500 million through FCCBs/ECB and other means of securities, subject to the requisite approvals including that of the shareholders.
At the BSE, Jaiprakash shares are currently trading at Rs.60.30, up Re.0.05 or 0.25 percent on a volume of around 660,000 shares.
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by RTT Staff Writer
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