Jaiprakash Associates Ltd. reported a standalone net profit of Rs 765 crore in the quarter ended June, on higher income and lower expenses incurred during the period.
The company had reported a loss of Rs 602.95 crore in the corresponding quarter of the previous year. Revenue went up 42.3 percent over last year to Rs 2,585.4 crore.
Earnings before interest, taxes, depreciation and amortisation more than tripled to Rs 760 crore from Rs 206.6 crore in the same quarter last year. The company's total expenses reduced to Rs 2,444.13 crore in the quarter under review, as compared to Rs 2,703.26 crore.
The board of JP Associates also approved a proposal for raising of funds up to Rs 2,000 crore through equity related instruments for meeting capital expenditure, reduction of debt, general corporate purposes and working capital requirements for its businesses.
Also Read: Jaiprakash Associates' Lenders Agree To Restructure Debt
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