Jaiprakash Associates Q2 + Bonus 1:2

Jaiprakash Associates has posted splendid results for the quarter ended September 2009. Net profit for the second quarter of the current fiscal soared a whopping 327.89% to Rs 870.19 crore, from Rs 230.37 crore in the previous corresponding period.

Total income for the quarter in review stood at Rs 1,912.51 crore a growth of 47.26% over Rs 1,298.76 crore in the year-ago period.

The company’s board, which met on October 21, 2009, declared an interim dividend of 27%, or Rs 0.54 per equity share of Rs 2 each, for the fiscal 2009-10.

The board also cleared the proposal to issue bonus shares in the ratio of one equity share for every two shares held in the company as on the Record Date to be fixed in due course.

Jaiprakash Associates is engaged in infrastructure construction, power projects, cement manufacturing and hospitality, among others.