Jaiprakash Power Ventures Ltd Share Price – NSE  /  BSE

Power Generation & Distribution, Small Cap

The Indian indices traded with substantial gains in mid-morning trade. The Nifty hovered above the 22,500 level. Bank shares advanced after declining in the past trading session.

At 11:25 IST, the barometer index, the S&P BSE Sensex, was up 567.74 points or 0.77% to 74,300.84. The Nifty 50 index added 119.25 points or 0.53% to 22,539.20.

In the broader market, the S&P BSE Mid-Cap index rose 0.37% and the S&P BSE Small-Cap index added 0.11%.

The market breadth was positive. On the BSE, 2,094 shares rose and 1,595 shares fell. A total of 205 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, surged 12.01% to 12.24.

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The Nifty Bank index gained 1.09% to 48,727. The index shed 0.61% in the past trading session.

AU Small Finance Bank (up 2.72%), IndusInd Bank (up 2.27%), ICICI Bank (up 2.11%), Kotak Mahindra Bank (up 1.67%) and Axis Bank (up 1.33%) were the top gainers. Among the other gainers were State Bank of India (up 0.85%), HDFC Bank (up 0.4%), Federal Bank (up 0.32%).

Stocks in Spotlight:

Jaiprakash Power Ventures was locked in an upper circuit at 5% after the company’s consolidated net profit stood at Rs 588.79 crore in Q4 FY24 as against a net loss of Rs 43.99 crore recorded in Q4 FY23. Revenue from operations increased 9.78% to Rs 1,514.83 crore in March 2024 quarter from 1379.88 crore posted in corresponding quarter previous year.

Usha Martin slipped 3.67%. The company reported 1% rise in consolidated net profit to Rs 106.3 crore as revenues fell by 3.1% to Rs 829 crore in Q4 FY24 as compared with Q4 FY23.

RBL Bank declined 2.41%. The private lender's standalone net profit jumped 30.1% to Rs 352.64 crore on 27.08% jump in total income to Rs 4,214.56 crore in Q4 FY24 over Q4 FY23.

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Revenue from operations increased 9.78% to Rs 1,514.83 crore in March 2024 quarter from 1379.88 crore posted in corresponding quarter previous year.

The firm’s profit before tax and exceptional item stood at Rs 850.58 crore in fourth quarter of FY24 as against loss before tax and exceptional item of Rs 19.36 crore reported in Q4 FY23.

Total expenses slipped 27.88% YoY to Rs 1,013.05 crore for the quarter. Cost of raw material consumed stood at Rs 689.44 crore (down 30.96% YoY) while employee expense stood at Rs 35.57 crore (up 17.01% YoY).

On a full year basis, the power generation company’s net profit zoomed to Rs 1,021.95 crore in FY24 over FY23. Revenue from operations rose 16.87% YoY to Rs 6,762.78 crore in the quarter ended 31 March 2024.

Jaiprakash Power Ventures is engaged in the business of generation of Thermal and Hydro Power, cement grinding and Captive Coal Mining.

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Net profit of Jaiprakash Power Ventures reported to Rs 588.79 crore in the quarter ended March 2024 as against net loss of Rs 43.99 crore during the previous quarter ended March 2023. Sales rose 9.78% to Rs 1514.83 crore in the quarter ended March 2024 as against Rs 1379.88 crore during the previous quarter ended March 2023.

For the full year,net profit rose 1744.01% to Rs 1021.95 crore in the year ended March 2024 as against Rs 55.42 crore during the previous year ended March 2023. Sales rose 16.87% to Rs 6762.78 crore in the year ended March 2024 as against Rs 5786.67 crore during the previous year ended March 2023.

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Jaiprakash Power Ventures will hold a meeting of the Board of Directors of the Company on 27 April 2024.

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