Jaiprakash Power Sept quarter net up 19% Rs 299.81 cr

Total income rises to Rs 1,201.41 cr in Q2 of current fiscal from Rs 969.18 crore a year ago

Jaiprakash Power Ventures today posted a 19.02 per cent rise in net profit at Rs 299.81 crore for the quarter ended September 2014, helped by higher income.

The power producer had a net profit of Rs 251.89 crore in the same period a year ago.

In a regulatory filing, the company said its total income climbed to Rs 1,201.41 crore in the second quarter (July- September period) of current fiscal.

In the same period a year ago, the total income stood at Rs 969.18 crore.

The company's operational capacity includes 1,791 MW hydel and 1,160 MW thermal assets.

During the quarter under review, the company witnessed lower power generation at some of its hydel plants.

The firm also incurred "higher interest on corporate loans facilities to fund on going projects in the absence of company's ability to raise equity due to market conditions prevailing in the recent past," according to the filing.