New Delhi, February 1, 2025 – Jaiprakash Power Ventures Limited (NSE: JPPOWER | BSE: 532627) has announced its unaudited standalone and consolidated financial results for the quarter and nine months ending December 31, 2024. The company demonstrated a stable financial performance, reporting a consolidated net profit of ₹12,668 lakh for Q3 FY25.
Key Financial Highlights
(All figures in ₹ lakh unless otherwise stated)| Particulars | Standalone (Q3 FY25) | Standalone (9M FY25) | Consolidated (Q3 FY25) | Consolidated (9M FY25) |
|---|---|---|---|---|
| Revenue from Operations | 1,14,017 | 4,12,128 | 1,14,017 | 4,12,128 |
| Other Income | 11,618 | 21,868 | 11,646 | 21,960 |
| Total Income | 1,25,635 | 4,33,996 | 1,25,663 | 4,34,088 |
| Total Expenses | 1,06,403 | 3,32,609 | 1,06,412 | 3,32,619 |
| EBITDA (Excl. Exceptional Items) | 40,619 | 1,68,492 | 40,642 | 1,68,578 |
| Finance Costs | 9,738 | 31,672 | 9,742 | 31,676 |
| Depreciation & Amortization | 11,649 | 35,433 | 11,649 | 35,433 |
| Profit Before Tax (PBT) | 19,232 | 1,01,387 | 19,251 | 1,01,469 |
| Net Profit (After Tax) | 12,465 | 65,524 | 12,668 | 65,788 |
| Earnings Per Share (₹) | 0.14 | 0.74 | 0.14 | 0.74 |
Segment-Wise Performance
Jaiprakash Power Ventures operates across three key segments: Power, Coal, and Sand Mining.Revenue Breakdown (Consolidated)
- Power: ₹1,14,033 lakh (Q3 FY25) | ₹4,12,154 lakh (9M FY25)
- Coal: ₹19,712 lakh (Q3 FY25) | ₹50,689 lakh (9M FY25)
- Sand Mining: No revenue was recorded in this segment during Q3 FY25, as the company completed its contract.
Profitability
- The power segment remains the highest contributor to the company’s profitability, generating ₹39,958 lakh in profit before interest, depreciation, and tax (Q3 FY25).
- The coal segment recorded ₹772 lakh in profit, while sand mining showed no contribution.
Key Corporate Updates
Regulatory & Legal Matters
- Vishnuprayag Hydro Electric Plant (VHEP): The company continues to face claims from UPPCL regarding excess payments amounting to ₹45,635 lakh. However, the management maintains that it has a strong case and expects a favorable resolution.
- Sand Mining Dispute: The Andhra Pradesh government issued demand notices totaling ₹1,79,367 lakh related to alleged unauthorized sand mining. The company has disputed these claims in court.
- SEBI Penalty: The company was fined ₹14 lakh by SEBI for past non-compliance related to accounting standards and related-party transactions. Management is evaluating the possibility of an appeal.
Financial Commitments & Debt Position
- Corporate Guarantee Exposure: The company remains involved in discussions regarding a corporate guarantee of USD 1,500 lakh (₹1,23,915 lakh) provided to Jaiprakash Associates Limited (JAL), which is under Corporate Insolvency Resolution Process (CIRP).
- Advances to JAL: The company has filed a claim of ₹4,281 lakh related to advances given for infrastructure work, which is under verification by JAL’s resolution professional.
Management Commentary
Manoj Gaur, Chairman of Jaiprakash Power Ventures, stated:Strategic Outlook
- Operational Efficiency: The company aims to enhance cost efficiencies in coal procurement and power generation.
- Debt Resolution: Discussions with financial institutions for restructuring and debt settlement are ongoing.
- Legal & Regulatory Clarity: The management remains engaged with regulators and legal authorities to resolve outstanding disputes.