JP Associates Q4 net down 56% on subdued demand
akash Associates March quarter profit slipped 56.5 percent year-on-year (YoY) to Rs 124 crore due to poor show from its mainstay businesses including cement and construction.
Moneycontrol Bureau
Jaiprakash Associates March quarter profit slipped 56.5 percent year-on-year (YoY) to Rs 124 crore due to poor show from its mainstay businesses including cement and construction. Sales too declined 4 percent YoY to Rs 3864 crore as overall demand in its subsidairies remained subdued
EBITDA was also down 13.5 percent YoY to Rs 851 crore, while margins declined 240 basis points to 22 percent. Shares of the company declined over 2 percent to Rs 73.60 post earnings announcement.
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