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Jaiprakash Power Q2 Results: Net Profit Slips 81% To Rs 33 Crore On One-Time Loss

Jaiprakash Power Ventures' second quarter revenue rose 5.1% year-on-year, while profit before exceptional items and tax climbed nearly 79%. A Rs 511 crore provision for a settlement with NARCL weighed on earnings this quarter. JP Power Ventures's consolidated net profit fell 81.7% year-on-year to Rs 33.34 crore in the quarter ended Sept 30, compared with Rs 182 crore in the year-ago period. The decline followed a Rs 511 crore exceptional charge towards a proposed full-and-final settlement with the National Asset Reconstruction Company Ltd. (NARCL) over a corporate guarantee furnished by the company for loans to Jaiprakash Associates. Net profit fell 81.7% to Rs 33.3 crore as compared to Rs 182 crore the previous year in the same period. Revenue from operations increased 5.1% year-on-year to Rs 1,512.12 crore from Rs 1,438.30 crore. Total income rose to Rs 1,579.34 crore from Rs 1,478.49 crore. The company's September-quarter earnings therefore reflect the impact of ...

"We Cannot Turn A Blind Eye": Calcutta High Court On Bengal Waqf Violence

Underlining that constitutional courts cannot be a mute spectator, the Calcutta High Court on Saturday ordered the deployment of Central forces in Bengal's Murshidabad where anti-Waqf protests have resulted in the death of three people.

Several vehicles, including police vans, were set on fire, stones were thrown at security forces, and roads were blocked as violence erupted in Malda, Murshidabad, South 24 Parganas and Hooghly districts during protests over the new legislation yesterday.

The High Court underlined that every citizen has right to life and it is the responsibility of the state to ensure that the life and property of every citizen is secured.

"Constitutional Courts cannot be a mute spectator and embroil itself in technical defences when the safety and security of the people are at danger. The deployment of Central Armed forces earlier could have escalated the situation as it appears adequate measures have not been taken in time," said the court.

The court noted that the situation is "grave and volatile", underlining that action is to be taken against the culprits to arrest the atrocities committed on innocent citizens on "war footing".

"We cannot turn a blind eye to the various reports that have surfaced which prima facie show vandalism in few districts of the state of West Bengal. The purpose of deployment of the para-military forces or Central Armed Police Force is only for the purpose of facilitating the state administration to ensure the safety and security of the population in this State," said the court, adding it cannot be denied that "there is an internal disturbance" in some of the districts in the state.

The central forces will operate in coordination with the state administration. The court also instructed both the state government and the Centre to submit detailed reports on the situation.

A special bench comprising Justices Soumen Sen and Raja Basu Chowdhury was constituted by the Chief Justice to urgently hear a petition filed by Suvendu Adhikari, Leader of the Opposition in the West Bengal Assembly, seeking the deployment of central forces in the district.

The matter is scheduled for further hearing on April 17.

Governor CV Ananda Bose on Saturday night welcomed the Calcutta High Court's directive for the deployment of central forces in violence-hit areas of Murshidabad district.

"I have been told about the deployment of CAPF in the riot-affected areas of Bengal, including Murshidabad. I am glad that the Calcutta High Court stepped in and given the appropriate decision in appropriate time," the Governor said in a video message released by Raj Bhavan.

Earlier today, Chief Minister Mamata Banerjee declared that her state would not implement the controversial Waqf (Amendment) Act and appealed for peace and harmony.

"We have made our position clear on this matter - we do not support this law. This law will not be implemented in our state. So what is the riot about?" she said in a post on X.

Ms Banerjee cautioned against political misuse of religion and warned of legal action against those inciting riots.

"Remember, we did not make the law that many are agitating against. The law was made by the central government. So the answer you want should be sought from the central government," the Chief Minister added.

Director General of Police Rajeev Kumar cautioned the agitators that the state police will not tolerate any attempts to disrupt law and order in the name of the protests.



from NDTV News- Special https://ift.tt/jFr8Hbh

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