Shares of Jaiprakash Associates on Tuesday declined by over 4 per cent, after the company reported over
64 per cent dip in standalone net profit for the
third quarter ended December 31.
Shares of the company opened on a weak note and plunged
further by 4.19 per cent to Rs 69.65 on the Bombay Stock Exchange. At the National Stock Exchange, the stock tumbled 4.32 per cent to Rs 69.60.
Jaiprakash Associates had on Monday reported over 64 per cent decline in standalone net profit, to Rs 110.93 crore, for the quarter ended December 31, as interest burden increased by over 20 per cent.
The company had a net profit of Rs 309.77 crore in the October-December period of 2011-12.
Jaiprakash Associates' net sales, however, were up 15.32 per cent at Rs 3,398.39 crore during the quarter vis-a-vis Rs 2,947.01 crore of the October-December period of FY12.
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