Companies

Jaiprakash Power posts ₹215 cr net profit in March qtr

PTI New Delhi | Updated on June 14, 2021

The impact of Covid pandemic on the business are likely to be temporary in nature

Jaiprakash Power Ventures Ltd (JPVL) on Monday posted a consolidated net profit of ₹215.32 crore in the March quarter, mainly on the back of higher revenues.

The company had reported a consolidated net loss of ₹70.91 crore in the quarter ended March 2020, a BSE filing said.

Total revenue rose to ₹1,063.13 crore in the March 2021 quarter from ₹705.52 crore in the same period a year ago.

The consolidated net profit of the company stood at ₹281.43 crore in 2020-21 while it had reported a loss of ₹2,147.22 crore in 2019-20.

Total revenue in the fiscal rose to ₹3,429.01 crore from ₹3,346.42 crore in 2019-20.

About the impact of pandemic, it said, "The management believes that there is not much of an impact likely due to this pandemic on the business of the company in the long term except some lower demand and its consequential impact on supply and collection from customers which are believed to be temporary in nature."

Published on June 14, 2021

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