Jaypee Infratech profit jumps 83 pc to Rs 487.49 crore

Jaypee Infratech, a Jaypee Group company, on Saturday reported a 83 per cent jump in profit after tax for the quarter ended March 31, 2010, at Rs 487.49 crore.

Jaypee Infratech, a Jaypee Group company, on Saturday reported a 83 per cent jump in profit after tax for the quarter ended March 31, 2010, at Rs 487.49 crore.

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The company recorded Rs 266.73 crore in profit after tax in the same period last year, a company statement said.

Net sales rose 15 per cent to Rs 640.66 crore compared to Rs 554.54 crore during the corresponding period last fiscal.

Jaypee Infratech was incorporated as a Special Purpose Vehicle for the implementing the 165-km Yamuna Expressway in Uttar Pradesh connecting Noida and Agra.

The company was listed on the Bombay Stock Exchange on May 21, 2010, with a discount of nearly nine per cent over its issue price at Rs 93.

The Jaypee Group is a diversified infrastructure conglomerate with interests in civil engineering and construction, cement, power, real estate, expressways, hospitality, golf courses and education (not-for-profit).