Jaiprakash Associates announces Q3 net profit of Rs.102 Crores, announces 20% dividend

Jaiprakash Associates Ltd has announced the following Unaudited results for the quarter ended December 31, 2006:

The Company has posted a net profit of Rs 1020 million for the quarter ended December 31, 2006 as compared to Rs 560 million for the quarter ended December 31, 2005. Total Income has increased from Rs 8200 million for the quarter ended December 31, 2005 to Rs 9310 million for the quarter ended December 31, 2006.

Jaiprakash Associates Ltd has announced an interim dividend of Rs 2.00 per share (20%) absorbing a sum of Rs 43.74 crores (excluding dividend distribution tax of Rs 6.13 crores) for the financial year ending March 31, 2007.

2. Formation of Special Purpose Vehicle for implementation of Taj Expressway Project of the Company in terms of the Concession Agreement.

Source : Equity Bulls

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