Jaiprakash Power Ventures on Monday reported a consolidated net loss of Rs 217.97 crore in December 2022 quarter. The company had reported a consolidated net profit of Rs 106.83 crore in the quarter ended on December 31, 2021, showed a BSE filing.
Total income in the quarter came down to Rs 1,206.06 crore from Rs 1,452.84 crore in the same period a year ago. The company gave an update on divestment of 2 MTPA Jaypee Nigrie Cement Grinding Unit (CGU).
It informed that for divestment of CGU (non-core asset) with Dalmia Cement (Bharat) Limited (DCBL), the board, on the recommendations of audit committee and as per mutual understanding between the company and DCBL, has decided to enter into a tolling/lease agreement (on mutually agreed terms) for a period of up to seven years for the time being, instead of transfer by sale, and DCBL shall have the right to purchase the CGU from JPVL on or before the 7th year at an enterprise value of Rs 250 crore. The company had entered into a framework agreement on 12th December, 2022 for divestment of CGU (non-core asset) with DCBL.
