Jaiprakash Hydro-Power Limited (JHPL), a subsidiary of the flagship company of the Jaypee Group, has informed that its net profit has surged 8.35% to Rs 54.60 crore in the quarter ended June 2008 as against Rs 50.39 crore during the previous quarter ended June 2007.

The company reported an increase of 1.15% in Sales to Rs 95.07 crore in the quarter ended June 2008 as against Rs 93.99 crore during the previous quarter ended June 2007.

New Delhi-headquartered JHPL engages in the generation and sale of hydro-electric power in India. It owns and operates the 300 MW Baspa-II hydroelectric project at Kinnaur district in Himachal Pradesh, India.

The scrip of the company gained 7 per cent to Rs 54.10 at the close of Friday's trading with over 5,593,300 shares changing hands on the BSE. It touched an intraday high of Rs 56.15 and low of Rs 48.50.