Jaiprakash Q2 net dips 87% to Rs 115 cr

Cement maker Jaiprakash Associates today reported a decline of 86.72 per cent in its standalone net profit for the three months period ended September 30.

The net profit of the company stood at Rs 115.52 crore in the second quarter ended September 30, as against Rs 870.19 crore in the same period a year ago, Jaiprakash Associates said in a filing to the Bombay Stock Exchange (BSE).

However, net sales of the company increased to Rs 2,993.26 crore from Rs 1,843.78 crore in the same quarter last year, it added.

Further, the company in a separate filing to the BSE said, Jaiprakash Gaur has stepped down from the directorship of the company and Rahul Kumar has been co-opted as the Director in the casual vacancy with effect from October 31.

Meanwhile, shares of the company were trading at Rs 124.90, up 3.87 per cent on the BSE.