Jaiprakash Power Ventures were top gainers on the futures market

Shares of Jaiprakash Power Ventures were the top gainers on the futures market after the company swung back into a quarterly profit on the back of higher sales.

Jaiprakash Power reported a first quarter Net Profit of 64.5 crore rupees compared with a loss of 141.5 crore rupees in the past sequential quarter. Sales during April-June jumped 32 percent to 1,209.4 crore rupees from 915.7 crore rupees in January-March. The company had 2 units coming online this quarter.

Jaiprakash Power rose 1.35 rupees, or 20 percent, to 8.10 rupees, its highest since May 18, on the National Stock Exchange, where 2.81 crore shares were traded by 3:10 pm compared with the 5-day average of 1.35 crore shares.

Jaiprakash Power's market capitalisation has slumped 56 percent in the past one year to 1,980 crore rupees mainly on account of the group's huge debt pile.

(Image credits: Indiatimes)