By IANS
Kolkata : Jai Balaji Industries Ltd, flagship company of Jai Balaji group, has reported a 341 percent increase in its net profit at Rs.272.8 million in the second quarter ended Sep 30 as compared with Rs.61.9 million the same period last fiscal.
The company’s net profit for first six months of the current financial year increased by 286 percent to Rs.508.7 million from Rs.131.8 million during the same period last year.
Total income for the second quarter was Rs.2.74 billion and for the half year, Rs.5.27 billion.
Earning per share for the quarter was Rs.5.79, and for the half year Rs.10.80, an increase of 135 percent and 106 percent, respectively.
The results are inclusive of the figures of Shri Ramrupai Balaji Steels Ltd, which merged with the company with effect from April 1, 2006.
Announcing the results, Aditya Jajodia, chairman and managing director of Jai Balaji group, said: “We are confident that we will be able to build value for our stakeholders.”
Jai Balaji has signed an agreement with West Bengal government to set up a 5-million tonne integrated steel plant, 3-million-tonne cement plant and 1,215-MW captive power plant in Purulia district at a total cost of Rs.160 billion.
The group has also acquired the entire shareholding of Nilachal Iron and Power Ltd, which owns a sponge iron plant with installed capacity of 125,000 tonnes per annum in Jharkhand.