Jaiprakash Associates in net profit has posted 86.2% drop to Rs 424.41 crore

Jaiprakash Associates Ltd (JAL) on Monday detailed a decrease of 86.2 percent in its consolidated net profit to Rs 424.41 crore for the final quarter finished March 31, 2021.

The organization had posted a net profit of Rs 3,068.10 crore in the January-March quarter a year prior, JAL said in a BSE recording.

Nonetheless, its income from operations was up 34.18 percent at Rs 2,517.20 crore during the quarter under audit as against Rs 1,876.03 crore in the corresponding time frame last fiscal, the organization said.

Its absolute expenses were at Rs 2,212.43 crore, down 4.76 percent in Q4/FY 2020-21 as against Rs 2,322.95 crore a year prior.

For the fiscal year, which finished on March 31, 2021, JAL revealed a consolidated net loss of Rs 667.31 crore. It’s anything but a net profit of Rs 560.76 crore in the previous year.

Its income from operations was at Rs 6,405.66 crore in FY 2020-21, down 8.95 percent. It was Rs 7,035.49 crore in FY 2019-20.

Shares of Jaiprakash Associates Ltd on Monday settled at Rs 14.76 each, up 4.98 percent from their previous close.