Suraksha Group-controlled Jaypee Infratech Ltd on Tuesday (February 11) reported a nearly 15-fold increase in net profit at ₹1,365.9 crore for the third quarter that ended December 31, 2024, on the back of an exceptional gain of ₹514.5 crore. The company had posted a net profit of ₹92 crore in Q3FY24.
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Revenue from operations increased sixfold to ₹1,317.2 crore against ₹218.6 crore in the corresponding period of the preceding fiscal.
At the operating level, the company’s Q3 EBITDA (earnings before interest, tax, depreciation, and amortisation) jumped nearly 9x to ₹852.2 crore over ₹97.3 crore YoY. The EBITDA margin expanded to 64.7% compared to 44.5% in the third quarter last fiscal.
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In June last year, Mumbai-based Suraksha Group took control of Jaypee Infratech Ltd (JIL) by constituting a three-member board. Sudhir V Valia, promoter of Suraksha Group, was appointed as a non-executive director on the JIL board.
The takeover followed the insolvency appellate tribunal, NCLAT’s decision on May 24 last year, upholding Suraksha Group’s bid to acquire JIL. The NCLAT had directed Suraksha Group to pay an additional ₹1,334 crore to Yamuna Expressway Industrial Development Authority (YEIDA) as farmers’ compensation.
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First Published: Feb 11, 2025 8:29 PM IS
