JP Associates posted 4th largest quarterly loss in a decade
DSIJ Intelligence / 17 Nov 2015
On 14th November Jaypee Associates announced its Q2FY16, wherein the net sales of the company for the quarter ending September 30, 2015 stood at Rs.2426.46 crores a fall of 8.92 per cent as compared to Rs. 2691.21 crores recorded in the same period last year.
Jaiprakash Associates Limited (JAL) is an India-based diversified infrastructure conglomerate. JAL’s business sectors include engineering and construction; manufacturing and marketing of cement; energy (power and transmission); expressways; real estate, and hospitality.
On 14th November Jaypee Associates announced its Q2FY16, wherein the net sales of the company for the quarter ending September 30, 2015 stood at Rs.2426.46 crores a fall of 8.92 per cent as compared to Rs. 2691.21 crores recorded in the same period last year. The total expenses rose by 11 per cent to Rs.2380.8 crores from Rs.2143.1 crores same period last year mainly because of increase in other expenses of 8.6 per cent and in depreciation of 17.6 per cent.
The EBITDA decreased by 60 per cent to Rs.295.73 crores, wherein the EBITDA margin shrank to 12.1 per cent from 27.45 per cent. The profit before interest and taxes is decreased by 85.75 per cent to Rs.84.63 crores. Interest expenses rose by 22.75 per cent to Rs.973.70 crores. The net loss for the period increased by 405 per cent to Rs.537.75 crores from Rs.106.48 crores in Q2FY16.
JP Associates posted its sixth quarterly loss in the second quarter in FY16 and registered the 4th largest quarterly loss at net level in a decade and the second-worst quarterly result for EBIDTA margins in a decade at 12.1 percent. The negative trend continues in cement & construction. Real estate division showed slight improvement.
On half yearly basis, JP Associates net sales decreased by 16.83 per cent to Rs.4821.50 crores from Rs.5797.28 crores of H1FY15. The total expenses decreased by 1.5 per cent to Rs.4717.97 crores from Rs. 4788.08 crores as compared to same period last year. The EBITDA decreased by 62.7 per cent to Rs.5496.4 crores, while the EBITDA margin shrank to 11.3 per cent from 25.15 per cent as compared to H1FY15. The net loss for the period is increased by 260.3 per cent to Rs.1021.96 crores from Rs.283.64 crores in H1FY16.
The FII holdings in JP Associates decreased by 151 basis points to 19.46 per cent, DII holdings decreased by 69 basis points to 6.41 per cent as on 30th September 2015. Today, JP Associates is trading at Rs.12.60.
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