Jaiprakash Associates shares close 14% higher after surprise jump in Q1 net

During the day, it jumped about 20% to Rs 30.40

Shares of Jaiprakash Associates on Monday surged over 14 per cent after the company reported a standalone net profit of Rs 764.99 crore in the quarter ended June.

The stock soared 14.40 per cent to settle at Rs 29 on BSE. During the day, it jumped 19.92 per cent to Rs 30.40.

At NSE, shares of the company surged by 14.20 per cent to end at Rs 28.95.

In terms of equity volume, 189.46 lakh shares of the company were traded on BSE and over 15 crore shares changed hands at NSE during the day.

Jaiprakash Associates on Saturday reported a standalone net profit of Rs 764.99 crore in the quarter ended June, on higher income and lower expenses incurred during the period.

The company had reported a loss of Rs 602.95 crore in the corresponding quarter of the previous year.

Its total income for the April-June period stood at Rs 2,602.9 crore, against Rs 1,836.61 crore in the year-ago period.