Jaiprakash Associates Q1 net up 52 pc to 140 cr

New Delhi, July 16: Jaiprakash Associates, the flagship company of the Jaypee group, posted a 52.17 per cent rise in its net profit to Rs 140 crore for the quarter ended June 2007 as against Rs 92 crore in the corresponding last year.

Total income for the quarter ended June 2007 increased 8.76 per cent to Rs 1,005 crore as against Rs 924 crore in the corresponding quarter a previous year, said a statement.

The company also declared a interim dividend of Rs 1.50 per share (15 per cent) absorbing a sum of Rs 32.89 crores (excluding dividend distribution tax of Rs 5.59 crores) for the financial year 2007-08.

The company also said it will be raising capital to the tune of one billion dollars, in two or more tranches from international market, through FCCB / GDR / ADR, out of which an amount upto 400 million dollars (including green shoe option) to be raised through issue of Foreign Currency Convertible Bonds (FCCB) immediately with the approval of shareholders.

UNI