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Monday, November 10, 2014

Jaiprakash Power Ventures Ltd: Result Update
The company as expected came up with good set of numbers for the September, 2014 quarter. The Company has posted a net profit of Rs.2998.10 million for the quarter ended September 30, 2014 as compared to Rs.2518.90 million for the quarter ended September 30, 2013. Total Income has increased from Rs.9765.90 million for the quarter ended September 30, 2013 to Rs.12073.20 million for the quarter ended September 30, 2014.

During the quarter under review, the company witnessed lower power generation at some of its hydel plants.

The firm also incurred "higher interest on corporate loans facilities to fund on going projects in the absence of company's ability to raise equity due to market conditions prevailing in the recent past," according to the filing.

Moreover, in 2013-14, power projects involving more than Rs.6 trillion of investment were shelved, abandoned or stalled, according to CMIE. 

The investors are therefore suggested to book at least 80% profits (or book complete) in Jaiprakash Power Ventures Ltd (Rs.14.77) and shift either to Suzlon Energy Ltd (Rs.13.65) or BGR Energy Ltd (Rs.165); or wait for fresh entry in J P Power Ltd, till it crosses Rs.15.20-15.40 with good volumes. 
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