Jaiprakash Associates hits 52-wk high after company turns profitable in Q1

The scrip opened at Rs 26.70 and had hit a high and low of Rs 30.40 and Rs 26.70 till now

Jaiprakash Associates gained as much as 20% to Rs 30.40, its 52-week high after the company 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.
 
The company's total expenses reduced to Rs 2,444.13 crore in the quarter under review, as compared to