MARKET EYE-Jaiprakash Associates down after earnings disappoint

Tue Feb 12, 2013 10:40am IST

Related Topics

Stocks

   

* Shares in Jaiprakash Associates Ltd fell as much as
4.2 percent, a day after the company reported a 64.2 percent
fall in Oct-Dec net profit to 1.11 billion rupees.
 
* The company reported a 17 percent rise in cement volumes to
3.7 million metric tonnes for the quarter, Barclays said in a
note. However, EBITDA realisation came down 19 percent over the
period due to higher fuel and logistics costs, mitigating the
advantage of higher cement volumes.
* Finance costs rose 15 percent although earnings were supported
by high quarterly real-estate sales, it added. 
* "Near-term stock performance would be driven by JPA's ability
to resolve perception around debt service capability," the note
said, adding it expects clarity on sale of Gujarat cement plants
to ease near-term debt concerns.

 (manoj.dharra@thomsonreuters.com;
manoj.dharra.thomsonreuters.com@reuters.net)
FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Drug Pricing

REUTERS SHOWCASE

 G20 Meet

G20 Meet

As G20 chases growth goal, members differ on how to get there   Full Article 

Modi Speaks

Modi Speaks

PM Modi says al Qaeda will fail in India - CNN.  Full Article 

Alibaba Listing

Alibaba Listing

Alibaba surges on massive demand in trading debut  Full Article 

Importing Rice

Importing Rice

Top rice exporter India importing over 100,000 T on temporary supply squeeze.  Full Article 

GSK Fined

GSK Fined

China hands drugmaker GSK record $489 mln fine, sentences executives.  Full Article 

HMT in Demand

HMT in Demand

Fans rush to HMT as watchmaker marks time.  Full Article 

Apple Not Cool?

Apple Not Cool?

Some consumers say Apple is losing its "cool" factor  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage