JP Associates's engineering and cement division were main contributors to its total revenue. The two main business arms of the group contributed 51% and 43% respectively. The real estate and hospitality division also contributed marginally.
JP ASSOCIATES, a leading company in the sphere of infrastructure, has posted a profit of 292 per cent in the first quarter ending June 30. At a time when companies across the world are facing the heat of recession, Indian companies have done a tremendous job of beating global recession. Following the steps of Infosys, Ultratech Cement, Larson and Toubro and many others, JP Associates, a company with diversified interests declared on Sunday (June 26) that it had shown a surge in its net profit from Rs125.2 crores to Rs491.2 crores against the corresponding period last year.
The total turnover of the company has also shown a considerable growth; it has increased by 77 per cent from Rs1194.7 crores to Rs2117 crores in the first quarter. JP Associates’s engineering and cement division were the main contributors in its total revenue, the two main business arms of the group contributed 51 per cent and 43 per cent respectively. While its real estate and hospitality divisions also contributed marginally - 4 per cent and 2 per cent respectively. Declaring the company’s result, JP Associates’s Executive Chairman Manoj Gaur said, “All the businesses of the company achieved a growth over the corresponding quarter of the previous year as well as over the immediate preceding quarter and we expect the same trend to continue in the coming quarters as well.”
Manoj Gaur further added that JP Associates is working on capacity expansion in its cement division which is operating wonderfully. Once that expansion is fully implemented, it will play a major role both in terms of profit and revenue in the days to come. As far as real estate is concerned, he said, its growth would be fuelled by new offerings which the company is planning to launch.