Jaiprakash Power posts net profit of Rs 280.6 crore in Q2

MUMBAI: Jaiprakash Power Ventures, engaged in electricity generation, today announced a net profit of Rs 280.65 crore in the second quarter ended September 30, 2011.

The company had net profit of Rs 86.98 crore in the September quarter last fiscal, Jaiprakash Power Ventures said in a filing with the BSE.

The results under review are not comparable as the figures are in respect of 300 MW Jaypee Baspa II HE Plant, 400 MW Jaypee Vishnuprayag hydro electric (HE) plant and 1000 MW Jaypee Karcham Wangtoo HE plant, it said.

The corresponding figures of the quarter/half year in the previous year are only for 300 MW Jaypee Baspa HE plant and 400 MW Jaypee Vishnuprayag HE, it added.

Total income of the company stood at Rs 670.84 crore in the quarter under review while it was Rs 282.55 crore during the same period previous year, it said.

The company has operating capacity of 1700 MW (hydro) and under implementation generating capacity of 2570 MW (thermal), it said.

Besides, the firm through its subsidiaries and associates implementing power projects with an aggregate capacity of 9200 MW.

For these projects, the company has raised resources by securitisation of receivable of Japee Baspa II HE plant and also other financial assitance resulting in additional interest cost, it said.

Shares of the company on Friday closed at Rs 37.15, up 1.92 per cent from the previous close on the BSE.