India's Jaiprakash Associates net profit falls 19 pct, finance costs rise

NEW DELHI Tue May 27, 2014 11:29pm EDT

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NEW DELHI May 28 (Reuters) - India's Jaiprakash Associates Ltd, an engineering and construction firm, reported a 19 percent fall in net profit for the fourth quarter, hit by slowing sales.

Net profit for the January-March quarter fell to 1 billion rupees ($16.9 million) compared with 1.24 billion rupees in the year ago period, while revenue was down 12 percent at 34.03 billion rupees, the company said in a statement early Wednesday.

Profit was also hit as finance costs rose about 38 percent to 756.4 million rupees in the quarter. ($1 = 59.0250 Indian Rupees) (Reporting by Aditi Shah and Zeba Siddiqui; Editing by Anand Basu)