Jaiprakash Power posts Q3 loss of Rs 97 cr, to raise Rs 3,500 cr

Jaiprakash Power Ventures on Monday said it has registered a loss of Rs 97.58 crore in the third quarter ended December 31, 2012. The company had posted a net profit of Rs 59.52 crore in the same period last financial year.

The company, in a statement to the Bombay Stock Exchange, said it plans to raise Rs 3,500 crore for its ongoing projects, including that of subsidiaries.

"Subject to approval of the shareholders the company will raise resources up to Rs 3,500 crore through various domestic and international options for its ongoing projects or joint venture and subsidiary projects," Jaiprakash Power Ventures informed BSE.

Meanwhile, the company's income from operations grew 8.59 per cent from Rs 367.59 crore in December 31, 2011 to Rs 399.17 crore in December 31, 2012.

Jaiprakash Power Ventures is an arm of the Jaypee Group which has interests in Civil Engineering and Construction, Cement, Power, Real Estate, Expressways, Hospitality etc.

The company's power projects which are in various stages of implementation include Hydro, Thermal and Transmission.

Shares of the company were trading at Rs 38.50 apiece, down 4.35 per cent on BSE.