Jaiprakash Power quarterly net profit rises 163 percent

New Delhi: Jaiprakash Power Ventures (JPVL) today posted a 163 percent increase in net profit at Rs.182.96 for the quarter ended June 30 against Rs.69.56 during the like period of the previous financial year.

The total revenue stood at Rs.545.35 crore for the quarter under review, up 98 percent as compared to Rs.275.32 crore during an year-ago period, the company said in a statement.

The results were announced here Saturday after the company’s board meeting.

JPVL is the designated power vehicle of the Jaypee Group, which was incorporated with the objective of development and operation of power projects in India.

“I am glad to announce that first unit of 250 MW of Bina Thermal Power Plant is expected to be commissioned by the end of July, and with this the operational production capacity of JPVL will become 1,950 MW, including 1,700 MW of hydroelectric power,” said Manoj Gaur, JPVL chairman.

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