Jaiprakash Associates Q3 net up 82.14pc, declares 20% dividend

New Delhi, Jan 12 (UNI) Jaiprakash Associates Ltd, engaged in cement and construction business, today posted a net profit of Rs 102 crore for the quarter ended December 31, 2006 as compared to Rs 56 crore for the same period last year, recording a growth of 82.14 per cent.

The Board of Directors of the company also approved formation of a Special Purpose Vehicle (SPV) for implementation of its Taj Expressway Project in terms of the concession agreement, a statement said.

The Board also declared an interim dividend of Rs 2 a share or 20 per cent absorbing a sum of Rs 43.74 crore (excluding dividend distribution tax of Rs 6.13 crore for the financial year ending March 31, 2007.

The total income of the company during Q3FY07 climbed by 13.54 per cent to stand at Rs 931 crore from Rs 820 crore during Q3FY06.

UNI